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Wednesday-Friday, December 24-26, 2025 Vol. 21 No. 77
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BUDGET GAPS SHRINKS 26% TO P157.6B IN NOV
FINDING HOPE IN THE EVERYDAY A real pine tree decorated by barangay officials and volunteers stands tall along the highway in Cordon, Ilocos Sur—an enduring symbol of hope spreading holiday
cheer to passersby on the eve of Christmas. In Metro Manila, hope finds expression in everyday rituals: anticipated massgoers gather at Quiapo Church, shoppers queue for holiday ham at Excellente Meat Store, residents of Parola, Cainta, Rizal, press on with buying vegetables despite soaring prices of basic food items in markets and supermarkets nationwide, and bargain hunters in Quiapo take a brief pause to share a meal of the viral palabok at Quinta Market. MAU VICTA/BM (TREE PHOTO); BERNARD TESTA/BM (QUIAPO, PAROLA CAINTA, QUINTA MARKET PHOTOS) B R J S. A
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@reine_alberto
HE national government’s budget deficit tapered to P157.6 billion in November on more careful spending amid the flood control scandal to prevent the risk of corruption.
Latest data from the Bureau of the Treasury (BTr) showed the budget gap was narrower by 26.02 percent year-on-year to P157.6 billion from P213 billion. Revenues marginally rose by 0.72 percent to P340.7 billion, while expenditures declined by 9.61 percent.
According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, the narrower deficit could already reflect reduced government spending amid the anomalous flood-control infrastructure projects scandal. C A
FINAL DAMAGE ESTIMATE FROM ‘UWAN’ TO AGRI SECTOR: P14.1B B A P
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@adapelonia
YPHOON Uwan left over P14 billion in damage to the country’s agriculture sector, the Department of Agriculture (DA) said. In its final bulletin for Typhoon Uwan, the DA noted that the losses sustained by 254,751 farmers and fisherfolk stood at P14.12 billion. Around 180,067 hectares of plantations were affected by the storm. It showed that 130,162 hectares of these have a chance to recover. The DA noted that the volume of production losses across 10 regions reached 455,911 metric tons (MT). The regions included were CAR, Ilocos, Cagayan, Central Luzon, Calabar-
zon, Mimaropa, Bicol, Western Visayas, Eastern Visayas, and Caraga. High-value crops and fiber crops tied in terms of commodities that suffered most of the damage caused by the typhoon at 243,812 MT each. This was followed by rice at 146,612 MT, corn at 33,362 MT, fisheries at 20,802 MT, and cassava at 1,914 MT. The DA said 79,609 animals were also affected by the typhoon. This included chicken, swine, cattle, carabao, goat, duck, sheep, turkey, quail, and guinea fowl. The lion’s share in the value of production losses was posted in high-value crops at P10.26 billion. This was followed by rice at P2.25 bilS “U,” A
PHL exports to Hainan surge 106% as free trade port opens B M T-B
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@maloutalosig
HILIPPINE coffee, coconut, seafood, tropical fruits, and modern services are gaining fresh momentum with the launch of China’s first province-wide Free Trade Port (FTP) in Hainan, an island about 750 kilometers from Luzon. The new customs regime—distinct from the mainland—offers zero tariffs, faster clearance, and tax incentives, positioning Hainan as a strategic gateway for Philippine trade, investment, and tourism in South China.
Coffee leads the way
AT the maiden Hainan International Coffee Conference in Haikou, Philippine firms—Bote
Central Inc., Coffee for Peace, Merlo Agricultural Corporation, Project Beans Trading, and Verra Coffee Inc.—showcased the country’s diverse beans. The Philippines is unique in producing all four major varieties—Robusta, Arabica, Excelsa, and Liberica—within the equatorial “Bean Belt.” China imported nearly USD1 billion worth of coffee in 2024, equivalent to 191,107 tons, according to the International Trade Centre data. Philippine exporters see Hainan’s FTP as a strategic entry point to tap this demand, with duty-free re-export options into the mainland if products undergo 30 percent value addition in Hainan. S “E,” A
NG to borrow P824B in local market in Q1
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HE national government will borrow a total of P824 billion from the domestic debt market in the first quarter of 2026, according to the Bureau of the Treasury (BTr). Based on the schedule released by the Treasury on Tuesday, the government is planning to raise P324 billion by issuing Treasury bills (T-bills) and up to P500 billion from Treasury bonds (T-bonds). The overall borrowing target is higher by 31 percent from the P629 billion programmed in the same period a year ago. “We want to take advantage of domestic liquidity to partially fund the P2.054 trillion domestic funding requirements,” National Treasurer Sharon P. Almanza told the BM. Every Monday, the Treasury will hold auctions of 91-, 182-, and 364-day T-bills, targeting a total of P108 billion for each of the months of January, February and March. As for the T-bonds, the Treasury will offer the long-term debt
papers with tenors of three, five, seven, 10 and 20 years every Tuesday in January, aiming to generate up to P160 billion. T-bonds with tenors of three, five, seven, 10 and 25 years are also up for sale in February, with the government seeking to borrow up to P200 billion. In March, the Treasury will sell T-bonds with maturities of three, five, seven, 10 and 25 years, targeting proceeds of up to P140 billion. According to Ed Francisco, president of BDO Capital and Investment, the local market can absorb the government’s higher borrowing requirement for next year. “Local yields are aligned with rate decisions of the Bangko Sentral ng Pilipinas [BSP] so it should be stable or even go down next year,” Francisco told the BM. The BSP’s Monetary Board has reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points S “NG,” A
PESO EXCHANGE RATES US 58.6840 ■ JAPAN 0.3736 ■ UK 79.0063 ■ HK 7.5427 ■ SINGAPORE 45.5586 ■ AUSTRALIA 39.0542 ■ SAUDI ARABIA 15.6478 ■ EU 69.0183 ■ KOREA 0.0397 ■ CHINA 8.3396 Source: BSP (December 23, 2025)
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News BusinessMirror
Wednesday-Friday, December 24-26, 2025
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to 4.50 percent in its rate-setting meeting last December 11, 2025. The interest rates on the overnight deposit and lending facilities were also adjusted to 4.00 percent and 5.00 percent, respectively. “Depending on the data, [the easing cycle] may have ended already. This may be the last cut. But depending on what else we see, we can still consider another cut,” BSP Governor Eli M. Remolona said, as the BSP assesses the effects of its previous rate cuts and other economic developments, including possible supply shocks. Remolona said the BSP could still deliver one more 25-basispoint rate cut next year, but rejected the need for an aggressive or off-cycle monetary easing, amid slower economic growth dragged by the infrastructure scandal. Next year, the government will borrow a total of P2.682 trillion from both external and domestic debt markets to meet its spending requirements, as well as to finance its budget deficit. A 77:33 financing mix will be followed next year, as the government reduces its reliance on foreign borrowings to mitigate foreign exchange risks and foster the local capital market. The government has borrowed P2.483 trillion as of end-October, up by 2.18 percent year-on-year from P2.429 trillion. Meanwhile, the country’s outstanding debt climbed to P17.562 trillion as of end-October, higher by 9.62 percent from P16.020 a year earlier. Of the total debt stock, 68.6 percent was sourced domestically, while the remaining 31.4 percent was borrowed from foreign financiers. Reine Juvierre S. Alberto
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Comelec records over 1-M voter registrants for BSKE
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B J X G
@jxrgarcia
HE Commission on Elections has processed more than 1 million voter applications just two months after reopening nationwide registration for the barangay and Sangguniang Kabataan elections (BSKE). Data from Comelec’s Election and Barangay Affairs Department showed that 1.02 million Filipinos have so far applied to vote in
the BSKE scheduled for November next year. Of the total, 230,666 applicants aged 15 to 17 registered as new
Sangguniang Kabataan voters, while 240,743 individuals aged 18 and above enrolled as new voters for the regular elections. A significant portion of applications involved record updates. These included 294,298 requests for transfers from another city or municipality, 63,004 transfers within the same locality, and 58,658 applications for corrections of entries or changes of name. By region, Calabarzon (Region IV-A) recorded the highest number of applications at 216,859, followed by the National Capital Region (121,863) and Central Luzon (Region III) with 118,610.
The Cordillera Administrative Region logged the fewest applications at 13,005, followed by Western Visayas (Region VI) with 29,870 and MIMAROPA (Region IV-B) with 30,396. Comelec earlier said voter registration will run until May 18, from 8 a.m. to 5 p.m., Mondays to Saturdays, including holidays. Some regional offices, however, have announced temporary closures during the holiday period. In Laguna, the Comelec office in San Pedro said it will be closed on December 24 and 25, December 30 and 31, and January 1 to 3, with regular operations resuming on January 5, 2026.
BUDGET GAPS SHRINKS 26% TO P157.6B IN NOV C A
It may have also prompted anti-corruption measures that fundamentally reduced some government expenditures, Ricafort added. More cautious government spending could dampen economic growth in the coming months, but may narrow the budget deficit, reduce the need for additional borrowings, improve fiscal management and signal stronger governance, boosting investor confidence, Ricafort said. From January to November 2025, the fiscal deficit expanded by 7.38 percent to P1.263 trillion
from P1.176 trillion in the same period last year. The Treasury said the greater shortfall was due to the increase in government revenues, which outpaced revenue collection. The deficit also stands at 80.92 percent of the full-year deficit target of P1.56 trillion, the Treasury added, “reflecting the government’s commitment to prudent fiscal management and consolidation efforts.” Broken down, revenues reached P4.149 trillion, up 1.09 percent from P4.104 trillion a year ago. This represents 91.79 percent of the P4.52-trillion full-year target, supported by higher tax collections
that offset the contraction in nontax sources. Combined tax revenues collected by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) rose by 7.03 percent year-on-year to P3.798 trillion from P3.549 trillion. The BIR raked in P2.905 trillion, an 8.92-percent increase from last year’s P2.667 trillion. Meanwhile, collections of the BOC reached P859.5 billion, up by 1.12 percent from P850 billion in the same period last year. Non-tax revenues were down by 36.85 percent to P350.6 billion from P555.2 billion due to the absence of the one-off remittances last year. Still, this has already exceeded the adjusted target of P306.5 billion by 14.40 percent, supported by the better-than-expected income performance of the Treasury and collections from other offices, including privatization proceeds, fees and charges, and grants. As for the government’s expenditures, this grew by 2.49 percent to P5.412 trillion from P5.281 trillion. This already accounted for 89 percent of the P6.08 trillion revised spending program of the government for the year. Primary expenditures amounted to P4.612 trillion, increasing by 0.80 percent from last year’s P4.575 trillion. Interest payments also grew by 13.49 percent to P800.5 billion from P705.3 billion in the prior year. Ricafort said there is still a “good chance” for the government to meet its budget deficit target for the year. “That could be made possible by
Export...
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Coconut, Agriculture and Services
BEYOND coffee, Philippine officials identified coconut, tropical agriculture, healthcare, green energy, and digital trade as priority sectors. The Philippines offers Hainanese firms proximity to raw materials and access to a 120-million domestic market plus Asean’s 600 million consumers. Officials encouraged Hainanese investment in processing, renewable energy, and digital platforms, complementing the FTP’s incent“The launch of the Hainan Free Trade Port (FTP) is a positive development with clear implications
Uwan...
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lion, corn at P654.11 million, and fiber crops at P535.72 million. Moreover, livestock and poultry also incurred losses worth P95.13 million, fisheries and aquatic resources at P83.66 million, and cassava at P32.41 million. Damage to infrastructure, irrigation facilities, and machinery were valued at P183.51 million, P20.88 million, and P2.34 million, respectively. The DA said it has issued several interventions to the affected farmers and fisherfolk to address the impact of typhoon Uwan. This included farm inputs for rice, corn, and high-value crops; animal feeds and supplements for livestock and poultry; and bangus, tilapia, and carp fingerlings. The DA added that 25,660 bags or 1,283 MT of rice stocks from the National Food Authority (NFA) for issuance to local governments and other relief agencies were also included in the interventions. The agency also assured insured affected farmers and fisherfolk of the indemnification through the Philippine Crop Insurance Corp. (PCIC). “The DA, through its RFOs [regional field offices], is currently undertaking rehabilitation and recovery efforts in the agriculture and fisheries, particularly in areas affected by the calamities.”
NGCP...
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LEONARDO A. LANZONA
further fiscal reform measures, tax reform measures, especially anticorruption measures to increase the structural source of national government revenues and to prevent corruption, wastage, leakages on the government expenditure side, as part of the overall priority on governance reform,” Ricafort said. For Leonardo A. Lanzona, economist at Ateneo de Manila University, “Clearly, the government intended to spur the economy through deficit spending due to lower inflation and lower BSPsponsored interest rates.” “This is an easy task because it only involved releasing funds that were financed by taxes and additional loans. Yet, despite the seemingly easy objective, structural factors have caused the government to fail in meeting its targets,” Lanzona told BM. “Overall, this does not inspire confidence especially for investors who were expecting a more robust economy in the presence of global headwinds,” Lanzona added. for the Philippines in trade, investment, and tourism,” Consul General Iric Cruz Arribas told the BUSINESSMIRROR. He noted that Philippine exports to Hainan grew by 106 percent from 2023 to 2024, driven by strong demand for coconut-based products, seafood, and tropical fruits. Total trade reached USD840 million in 2024, making Hainan the Philippines’ 16th largest provincial trading partner in China. Arribas added that investment opportunities extend to tourism, digital trade, high-tech industries, and renewable energy, aligned with Philippine priorities. He cautioned, however, that Hainan’s strong incentives could compete with the Philippines for foreign investment and tourists, while its growing agrifood and processing industries may challenge Philippine exports. “Overall, the Hainan FTP presents more opportunities than risks for the Philippines, but maximizing the benefits will require active engagement, targeted export promotion, and continued efforts to improve trade facilitation and tourism competitiveness,” Arribas emphasized.
Beyond Asean– China FTA
WHILE the Philippines already enjoys tariff reductions un-
Apart from the repair of the 69kV facility, NGCP is also expediting the completion of the Nabas-Caticlan-Boracay 138kV Transmission Line project, which will improve the reliability and stability of power transmission in the area with the construction of a new backbone line. The project, which was being pursued by NGCP as early as 2019, is targeted for completion by August 2026, following numerous external delays which the ERC recognized and found reasonable. While not a direct solution, the new 138kV line will provide looping and an alternative line route which will further strengthen the reliability of the system.
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(2026–2030). ■ US$1 billion in direct loans repayable within 17 years. ■ US$1 billion in loan guarantees covering 80 percent of principal. Targeted modernization in coastal defense, long-range fires, integrated air defenses, maritime security, ISR, unmanned aerial systems, mechanized vehicles, and defensive cybersecurity. Beyond funding, the law embeds the Philippines into US Indo-Pacific strategy through annual oversight, EDCA site development, trilateral cooperation with Japan and Australia, GSOMIA information-sharing, humanitarian pre-positioning, organizational reforms, and explicit counter-coercion measures. (See related story: www.businessmirror.com. ph/2025/12/22/phl-secures-historic3-5-b-u-s-defense-aid-via-ndaa-2026/)
der the Asean–China Free Trade Agreement (ACFTA), Hainan’s FTP goes further by creating a province-wide customs territory. Chinese briefings describe the FTP as a “systematic and institutional upgrade”, offering zero tariffs on 74 percent of goods, simplified customs clearance, and corporate and personal income tax capped at 15 percent.
For Philippine businesses, this means:
FASTER logistics: quicker entry through Hainan ports. Re-export advantage: duty-free access to the mainland for processed goods. Broader incentives: bundled opportunities in tourism, services, and investment. Hainan’s FTP also opens doors in tourism. The island grants 30-day visa-free entry to citizens of 68 countries, including the Philippines. Arribas said Philippine SMEs may tap Hainan’s cross-border e-commerce platforms to reach Chinese consumers. Tourism and exchanges are expected to deepen further, with visa-free entry supporting business travel and cultural links. Although direct flights between Manila and Hainan remain absent, operators see potential in linking Hainan’s tropical appeal with Philippine destinations, creating new Asean–China travel circuits. Philippine hospitality, wellness, and cultural enterprises could tap into Hainan’s growing tourism market.
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Wednesday-Friday, December 24-26, 2025
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SC dismisses, disbars judge DSWD opens minors help desk at Naia T-1 over killing of fellow judge
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HE Supreme Court (SC) en banc has ordered the dismissal and disbarment of Judge Oscar Tomarong, presiding judge of Branch 28, Regional Trial Court (RTC) in Liloy, Zamboanga del Norte, for the murder of a fellow judge. The Court issued the ruling following disciplinary proceedings initiated by the Judicial Integrity Board (JIB) after Tomarong’s conviction for planning the 2019 killing of Judge Reymar Lacaya, then Presiding Judge of Branch 11, RTC in Sindangan, Zamboanga del Norte. In a 16-page decision made public on Tuesday, the SC dismissed Tomarong from office,
ordered the forfeiture of his retirement benefits, disbarred him from practicing law, and disqualified him from reemployment in the government. In 2019, the SC reassigned the two judges to each other’s court branches. Shortly after Lacaya finished court hearings in Branch 28 one afternoon, he was gunned down behind the court building.
During the criminal trial, Juliber Cabating testified that Tomarong instructed him to look for hired killers to murder Lacaya. Cabating said Tomarong paid the killers P250,000 through him. Another witness confirmed being with the hired killers in the morning before the murder, and an eyewitness also saw and identified the killers fleeing from the court building shortly after the shooting. The SC described Tomarong’s actions as among “the gravest violations of judicial duty.” “The crime involved is a patent breach of the very essence of what it means to be a judge who carries the obligation and privilege of serving the people. At a time when the rise in the attacks against judges has even necessitated the adoption of measures to protect judges, a judge committing the murder of a fellow judge must be punished swiftly and severely,” the SC said. Although Tomarong’s criminal conviction is still on appeal, the SC
ruled that a final conviction is not required to impose administrative penalties. The SC underscored that no one is above the law, including members of the Judiciary. It emphasized that public trust in the justice system is undermined when judges violate the very laws they are sworn to uphold. “[N]o one, not even members of the Bench, is above the law. Judges are the embodiment of law and justice…The Judiciary’s task of maintaining the people’s trust is undermined whenever judges neglect their duties, and worse, violate the laws that they are supposed to uphold. This case is the Court’s proof of its commitment to the public that no judge who so callously breaches the law and perpetrates an injustice will go unpunished,” it said. The SC reminded all courts of their obligation to promptly report any convictions of judges and court personnel to the JIB, now known as the Judicial Integrity Office, in line with the Rules of Court. PNA
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HE Department of Social Welfare and Development (DSWD) has officially opened a new Minors Traveling Abroad (MTA) help desk at the Ninoy Aquino International Airport (Naia) Terminal 1. The DSWD spokesperson, Assistant Secretary Irene Dumlao, said the help desk is designed to provide immediate assistance to minor travelers who may need urgent support. “The DSWD’s MTA help desk is now open to assist families and minor travelers at the Naia Terminal 1. The facility aims to cater to urgent concerns on the travel clearance applications for minors traveling alone and inquiries regarding minors traveling with companions other than their parents,” Dumlao said. She stressed that the issuance of Travel Clearance Certificates (TCC) for
minors traveling abroad without their parents is a vital measure to protect children from potential abuse, exploitation, and trafficking. Dumlao added that the requirement for TCC is mandated under the Special Protection of Children Against Abuse, Exploitation and Discrimination Act, as well as the Philippine Passport Act of 1996. “The opening of the Naia Terminal 1 help desk expands the agency’s reach in major airports. Other MTA help desks can be found at Naia Terminal 3 in Pasay City, Clark International Airport [CIA], MactanCebu International Airport [MCIA], and Francisco Bangoy International Airport in Davao, ” Dumlao said. She also reminded parents and guardians to See “DSWD,” A5
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Wednesday-Friday, December 24-26, 2025
Lacson to Leviste: Be careful in making claims By Butch Fernandez @butchfBM
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ENATORS who were elected in the May 2025 polls are not among those who had budget insertions in the 2025 budget of the Department of Public Works and Highways (DPWH) as claimed by Batangas Rep. Leandro Leviste. Senate President Pro Tempore Panfilo Lacson made this clear on Tuesday, as he chastised the Batangas congressman for making a sweeping claim without clarification, while telling the media he
had vital records from former Public Works Undersecretary Catalina Cabral, who died last Thursday after falling into a ravine in Benguet. It turned out that Leviste had acquired the supposed key docu-
ments as early as September, but did not explain clearly why he held on to these and did not release the contents while the parallel investigations into the multibillion flood-control fund scandal were swirling. Lacson said the records cited by Leviste on Monday, which supposedly showed senators’ insertions in the DPWH’s 2025 budget amounting to P120 billion, refer to a budget that was approved by the 19th Congress, months before the May midterm elections. “Congressman Leviste should at least qualify his statement with the phrase ‘in the 19th Congress’ in fairness to the new members of the 20th Congress, including myself and Senate President Vicente Sotto III, among others,” he said. “That said, even during the pre-
vious Congresses, I never partook of allocables or pork barrel allocations, or whatever names they were called,” Lacson stressed. Lacson, who has consistently denounced the pork barrel system, was among the 12 senators elected last May and assumed office June 30, along with Sotto. As such, he pointed out he could not have taken part in preparing the national budget for 2025, much less that of the DPWH. In a radio interview Monday, Leviste was quoted as saying that senators made P120 billion in insertions to the 2025 budget, based on documents he got from the late DPWH Undersecretary Cabral. He said his mother, Sen. Loren Legarda, was listed as having project insertions although he quoted her as saying she had no knowl-
House approves 12 Ledac priority bills By Jovee Marie N. dela Cruz @joveemarie
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HE House of Representatives has already approved on third and final reading 12 priority measures under the Legislative-Executive Development Advisory Council (Ledac). The measures reflect the Chamber’s focus on addressing the needs of various sectors, including the passage of the Assistance to Individuals in Crisis Situation (AICS) bill, which seeks to institutionalize government aid for individuals in distress; the National Reintegration Bill, aimed at facilitating the economic and social reintegration of overseas Filipino workers (OFWs); and the National Center for Geriatric Health bill, which seeks to improve access to specialized healthcare for senior citizens. Education reforms were also prioritized with the approval of proposed amendments to the Government Assistance to Students and Teachers in Private Education Act and the Teachers Professionalization Act. Ot her L ed ac pr ior it y bi l ls passed on final reading include the proposed Blue Economy Act; measures strengthening the Energy Regulatory Commission (ERC); the bill promoting waste-to-en-
ergy technologies; the proposal establishing the Department of Water Resources; amendments to the National Building Code; and revisions to the Bank Secrecy Law. The House also approved the bill extending the estate tax amnesty period. Meanwhile, five additional Ledac priority bills are currently pending comment or concurrence from the Committees on Appropriations or Ways and Means or both, while 15 more remain under review by the appropriate House panels. Speaker Faustino Dy III urged lawmakers to remain steadfast in public service and to find fulfillment in legislating for the people. “The true joy of public service does not come from position, title, or power. It comes from knowing that a child finished school, a patient recovered, or a family found hope because we chose to serve with sincerity and integrity,” Dy said. Meanwhile, Party-list Rep. Bryan Revilla of Agimat welcomed the House’s approval on the third and final reading of four major reform measures, saying their swift passage underscores legislative unity, shared leadership, and a collective commitment to deliver meaningful reforms for the public. Revilla stressed that the measures advanced through coopera-
tion and strong support from House leadership, noting that reforms are achieved through collaboration rather than individual effort. “These measures moved forward because the House worked as one. This is the product of cooperation, open dialogue, and a shared sense of responsibility to the Filipino people,” Revilla said. “I am grateful to our leaders and colleagues who helped shepherd these reforms through the legislative process.” Among the measures approved are four bills co-authored by Revilla: n House Bill 22, or the Accessible Internet for All Act, seeks to expand affordable and reliable internet access nationwide by easing spectrum user fees, encouraging competition, and improving service quality, recognizing connectivity as vital to education, employment, and economic growth. n House Bill 178, the Automatic Refund for Internet Outages Act, aims to strengthen consumer protection by requiring telecommunications and internet service providers to automatically compensate subscribers for prolonged service disruptions. n House Bill 6707, or the Transparency in Banking Act, a Ledac
priority measure, amends the Bank Secrecy Law to allow the disclosure of bank records in cases involving corruption, tax enforcement, and financial fraud, while maintaining safeguards to protect legitimate privacy rights. n House Bill 6789, the National Water Resource Management Act, also a Ledac priority measure, establishes a comprehensive framework for managing the country’s water resources through the creation of a Department of Water Resources and an independent Water Regulatory Commission to address fragmented regulation, water insecurity, sanitation gaps, and public health concerns. Revilla said the early approval of these measures reflects the House’s determination to advance priority reforms without delay. “These are not individual victories; they are collective commitments,” he said. “They reflect our shared resolve to promote affordable connectivity, protect consumers, strengthen transparency, and ensure access to clean and safe water for all.” The approved measures will be transmitted to the Senate for further legislative action, while bicameral discussions on related priority bills are expected to proceed before the end of the year.
Houses being built for ex-MILF fighters By Manuel T. Cayon @awimailbox
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AVAO C I T Y— A t h i r d round of construction of houses for former Moro combatants is being rushed in Camp Omar, the third Moro Islamic Liberation Front military and civilian encampment listed as official MILF camps in the peace treaty between the gov-
ernment and the revolutionary organization. T he Ministr y of Human Settlements and Development ( M H SD) of t he autonomou s reg ion gover nment sa id 10 0 houses would be constructed for for mer MILF combatants in barangay Limpongo in Datu Hoffer, Maguindanao del Sur. The beneficiaries will be former combatants from the 105th Base
Command of the MILF’s Bangsamoro Islamic Armed Forces (Biaf). “We are deeply grateful to those working hard to build these projects, because we all know how difficult it is to have a decent home,” said Taib Amil, who represented Commander Sheikh Muhiddin Usman of the 105th Base Command, who is also the camp coordinator for the Joint Task Forces on Camps Transformation (JTFCT). Amil said the housing construction “reaffirms the leadership commitment to peace inside and outside of the Camp Omar.” The construction of houses in Camp Omar is funded through the Special Development Fund-Project Management Office (SDF-PMO) of the Bangsamoro Planning and Development Authority (BPDA). The project will be built on a 3.5-hectare land area donated by the municipal government of Datu Hoffer. Each of the houses have three bedrooms, a living area, a dining area, a kitchen a toilet and a porch. The housing site also includes seven community support facilities: a covered court with a stage and bleachers, a concrete fence
and archway, an access road with drainage, solar streetlights, a Level II water system, a fully equipped health station, and a multipurpose building. The MHSD and the SDF-PMO led the groundbreaking ceremony last Thursday. Municipal Mayor Prince Sufri Norabbie Ampatuan also attended. MHSD Deputy Minister Aldin Asiri said the project “reflects the regional government’s commitment to the normalization process, noting that this is the last groundbreaking conducted across the six camps of the Moro Islamic Liberation Front [MILF].” “The BARMM government is working hard so that we can provide decent housing, especially to the Mujahideen,” he said. Last month, housing constructions of 100 units each camp were made in Camp Abubakar As-Siddique, the largest MILF camp in Barangay Togaig, Barira, and in Camp Bushra in Butig, Lanao del Sur. A total of 600 housing units will emerge in the six camps as part of the See “Ex-MILF,” A5
edge of the projects listed under her name. In his radio revelation, Leviste also tagged Bicol Saro Rep. Terry Ridon as having an insertion, but Ridon slapped down his claim by pointing out a clear fact: Ridon was only elected congressman last May and could not have made an insertion in the 2025 budget approved in 2024. This is Leviste’s second major misstep in making “revelations” that he later takes back. Several weeks ago, he claimed that then DPW H Undersecretar y A r rey Perez had close ties with a controversial contractor, only to clarify later that he was not referring to Perez. The latter tendered his irrevocable resignation as a result, just 18 days after he was sworn in as DPWH undersecretary.
Stop misleading public
RIDON urged Leviste “to stop misleading the public and instead release the list which you claimed contains insertions of legislators.” Ridon said he wondered why Leviste does mention about the documents supposedly left under his care by late Public Works Undersecretary Maria Catalina Cabral, and yet he is hesitant to make it public. “It is only right that he releases these documents immediately. He does not need any advice from Congress or Public Works Secretary Vince Dizon to do this,” Ridon said. “More importantly, why did he not release this document from the late Undersecretary Catalina Cabral the moment he claimed he got it from her last September 4, 2025, which is already three months ago,” Ridon said.
Nartatez urges local govts to set up firecracker zones By Rex Anthony Naval
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HE National Police (PNP) on Tuesday called on local governments (LGUs) to designate firecracker zones to ensure public safety during the Christmas and New Year celebrations. The acting PNP chief, Lt. Gen. Jose Melencio Nartatez Jr., aired the appeal after observing that many people are lighting firecrackers early this Christmas Season with the usage expected to go higher in the days leading up to the New Year. Nartatez’s call follows joint inspections conducted by the PNP and the Bulacan provincial government in Bocaue, Bulacan, the country’s fireworks capital, on December 22 amid the expected surge in firecracker-related injuries and fire incidents. The acting PNP chief also added that they are strictly enforcing safety standards set by the Firearms and Explosives Office (FEO) where all firecracker stalls are required to have valid permits, proper storage facilities, and clearly labeled products. The sale of illegal, oversized, overweight, imported, and unlabeled
firecrackers remains prohibited under the law. Among the prohibited firecrackers and pyrotechnic devices are Watusi, Poppup, Pla-pla, Piccolo, Five Star, Giant Bawang, Giant Whistle Bomb, Atomic Bomb, Largesize Judas Belt, Super Lolo, Goodbye Bading, Lolo Thunder, Atomic Triangle, Mother Rockets, Goodbye Philippines, Goodbye Delima, Goodbye Napoles, Coke-In-Can, Bin Laden, Pillbox, Kabasi, Super Yolanda, Boga, Kwiton, Hello Columbia, Tuna, GPH Nuclear Special, Goodbye Chismosa, King Kong, and Dart Bomb. Nartatez also directed all local police units to intensify intelligence gathering, conduct regular and surprise inspections of stalls, warehouses, and storage areas, and increase visibility patrols in residential communities, public markets, and online platforms where illegal firecrackers are often sold. Nartatez also warned that the PNP will not hesitate to file cases against violators of Republic Act 7183, or the Firecracker Law, and implementing regulations. He added that police See “Nartatez,” A5
Palace open to independent probe of Duterte-era EJKs
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ALACAÑANG is open to the creation of a Truth Commission to investigate extra-judicial killings during the previous administration. Acting Presidential Communications Secretary Dave M. Gomez issued the statement when asked about the Palace position on the Supreme Court decision to affirm the conviction of three police officers, who were involved in the killing of the 17-year-old Kian delos Santos. Delos Santos was killed in an anti-drug operation in 2017. He was among the 6,000 to 30,000 alleged drug suspects, who were killed by state and vigilante forces in the bloody drug war of the administration of former President Rodrigo R. Duterte. Duterte is currently facing crimes against humanity charges
before the International Criminal Court at the Hague for the said killings. Gomez said they will review the SCs decision on the Kian case with a view of expanding the investigation into the killings. “ T his development underscores the need to consider the proposal from the Church, civil society, and some members of Congress for an independent Truth Commission to probe more deeply into these extra judicial killings,” Gomez said. In a 40-page decision, the SC’ Second Division ruled police officers Arnel Oares, Jeremias Pereda and Jerwin Cruz guilty of murder for the killing of delos Santos. They were sentenced to 40 years imprisonment, and ordered to pay P275,000 in damages. Samuel P. Medenilla
BusinessMirror
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DSWD. . . Continued from A3
submit their MTA applications ahead of time to avoid inconvenience on the day of travel. “We are urging parents and guardians to schedule their application for TCC in advance to avoid offloading incidents or travel delays,” she said. As part of the streamlining and digitalization efforts of the Marcos Administration, the DSWD has made the processing of TCC faster and safer online through the MTA Online System at https://mta.dswd.gov.ph/. The public may also apply for TCC via the eGov PH (e-Government Philippines) mobile application by downloading the app in various digital distribution services, such as Google Play, App Store, and App Gallery. Jovee Marie N. dela Cruz
Nartatez. . . Continued from A4
commanders who fa i l to enforce these rules will be held accountable. At the same time, the PNP
Wednesday-Friday, December 24-26, 2025
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Discaya, 3 ex-DPWH engineers detained in Senate won’t have holiday furlough By Butch Fernandez
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@butchfBM
ITING security concerns, the chairman of the Senate blue-ribbon committee said on Tuesday there will be no holiday furlough for contractor Pacifico Discaya II and three former Department of Public Works and Highways (DPWH) engineers detained in the Senate for contempt in connection with the flood control project scandal.
Senate President Pro Tempore Panfilo M. Lacson said Senate President Vicente Sotto III
approved his recommendation to deny the leave requests of Discaya and former engineers
reiterated its call to the public, especially the youth, to refrain from using illegal firecrackers and to opt for safer alternatives in welcoming the New Year. “The safe celebrations of Christmas and New Year is a shared responsibility. On the part of the
Philippine National Police, we will exhaust all measures to prevent the proliferation of illegal firecrackers and ensure police visibility. Let us work together to have safe and meaningful Christmas and New Year celebrations,” Nartatez said.
Brice Hernandez, Jay pee Mendoza and Henr y A lcantara. “I recommended to the Senate President that their request for Christmas furlough be denied mainly for security reasons, owing to the repeated media statements from Ombudsman Jesus Crispin Remulla and President Marcos that arrest warrants against them may be issued before Christmas,” Lacson said. “So the risk of escape becomes greater—not to mention that it makes no sense to grant such requests for Christmas leave if indeed warrants are coming out by then,” he added. Discaya and the former DPWH engineers were detained at the Senate after being cited in contempt by the blue-ribbon committee for refusing to cooperate in its flood control project investigation. Alcantara sought a holiday leave through
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execution of Executive Order 79, or the Annex on Normalization of the Comprehensive Agreement on the Bangsamoro (CAB), signed
the Department of Justice (DOJ), Lacson noted. Lacson said Sotto approved his recommendation, saying that he will only allow the four to hear Mass in the Senate, and that their families may visit them at the Senate premises. “That’s the most that we can allow given the circumstances,” Lacson said in agreeing with Sotto’s decision. Meanwhile, Lacson expressed hopes that the Office of the Ombudsman can make good on its publicly stated timelines to file charges against those found responsible before the Sandiganbayan and other venues, if only to send a clear message that they cannot get away with stealing Filipinos’ hardearned taxes. This, he said, should also help discourage “incorrigible” members who remain unfazed by the public’s
anger over corruption and scrutiny of the 2026 budget measure, as well as his and like-minded colleagues’ efforts to rid the budget of “pork” and self-aggrandizing “insertions.” “I hope the Office of the Ombudsman can make good on their publicly stated timelines to file the information before the Sandiganbayan and other venues, assuming that probable cause is clearly established against those responsible for the plunder of public funds, if only to strike fear among those who still entertain the idea that they can get away with stealing our citizens’ hard-earned tax money, especially now that the 2026 budget measure remains under public scrutiny in spite of our efforts to cleanse the same of pork and self-aggrandizing insertions possibly orchestrated by some incorrigible members of Congress,” Lacson said.
by the MILF and the national government. Similar projects will rise in Camp Bad ’r in Guindulungan; Camp Rajamuda in the Special Geographic Area; and Camp Bilal in Lanao del Norte. “Every home built through this
project is not just a structure—it is a promise that the Bangsamoro government is steadfast in its commitment to the welfare of its people,” said Acting Senior Minister Abdullah Cusain, delivering the message of Chief Minister Abdulraof Macacua.
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Wednesday-Friday, December 24-26, 2025
IPOPHL signs cooperation pact with Korean trade agencies By Andrea San Juan @andreasanjuan
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HE Intellectual Property Office of the Philippines ( I P OPH L) h a s e nt e re d into a five-year cooperation deal with Korean trade agencies to strengthen Bicol region’s elemi industry through technology and branding support. In a statement, IPOPHL said it formalized together with the Ministry of Intellectual Property of Korea (MOIP), the Korea Invention Promotion Association (KIPA) and the Orgullo Kan Bikol Association (OKB), a five-year cooperation agreement through a Memorandum of Understanding (MOU) to strengthen the Bicol region’s elemi industry through technology and branding support. The country’s intellectual property rights watchdog said this signing marks the “culmination” of a year-long collaboration that developed and deployed a “specialized” elemi oil extraction technology for the OKB community under the
“2025 IP Sharing Project: Development of Appropriate Technology for Elemi Oil Extraction and Related Brands in Bicol,” led by MOIP and Kipa. Through the project, a customized extraction system was installed in the OKB community, addressing “long-standing” issues of low yield, labor intensity and safety risks associated with improvised distillation systems used by small and medium enterprises. “The new equipment enables safer, more efficient processing and supports the setup of a shared facility for local producers,” IPOPHL said. Running from January to December 2025, the project includes field research, equipment development, installation, training programs and a year-end demonstration of results. IPOPHL said the MOU will support long-term cooperation through sustained capacity building on equipment use, sustainable See “IPOPHL,” A7
Economy
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Govt mulls Cocochem divestment
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By Justine Xyrah Garcia
HE Marcos administration is reassessing its planned sale of United Coconut Chemicals Inc. (Cocochem) amid improving global demand for coconut-based products, the Department of Agriculture (DA) said. Agriculture Secretary Francisco P. Tiu Laurel Jr. on Monday led an on-site inspection of Cocochem’s facilities as part of the review, which is intended to determine whether the divestment should proceed under current market conditions. “We want to see for ourselves whether it still makes sense for
the government to continue operating this chemicals and oleo fats factory given the rising demand for coconut products, particularly in Europe,” Tiu Laurel said in a statement. The planned sale, to be undertaken through the Land Bank of the Philippines, involves about 682 million common shares and
is expected to raise at least P2.82 billion. The DA said proceeds are earmarked for programs benefiting coconut farmers. Cocochem was established in 1981 during the administration of former President Ferdinand E. Marcos Sr. with businessman Eduardo M. Cojuangco Jr., and was once a major producer of coconutbased chemicals and oleo fats in Southeast Asia. The company ceased manufacturing operations in 2012 following years of declining competitiveness, citing weak domestic demand and higher coconut oil prices relative to palm kernel oil. The non-implementation of a policy requiring the use of fatty alcohols in locally produced detergents also affected demand, the DA said. Since then, the department said Cocochem has operated mainly as a
facilities-based enterprise, generating income from industrial land leases, storage tank and warehouse rentals, port and utilities services, and housing within its 39-hectare property in Batangas. “Cocochem’s revenue mix reflects this pivot: Cocochem AgroIndustrial Park Inc. contributes 53 percent of annual income, Cocochem itself 44 percent, and residential operations the remaining 3 percent,” the DA noted. The agency also said the reassessment remains ongoing and no decision has been made on whether the planned sale will push through. “With European demand for coconut derivatives gaining traction once more, the government’s review raises the question on whether coconut farmers interest would be better served if the state hold on to a strategically located asset,” it added.
DSWD expands program against teenage pregnancy
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ITH thousands of girls continuing to give birth every year, the Department of Social Welfare and Development (DSWD) is pushing for the nationwide implementation of its ProtecTEEN Program, a social welfare initiative designed to provide a comprehensive and systematic response to adolescent pregnancy. Based on Philippine Statistics Authority (PSA) data, thousands of girls aged 10 to 19 continue to give birth every year, underscoring the need for sustained interventions that address not only health risks but also the social, psychological, and economic challenges faced by young mothers and their children. To strengthen its response, the DSWD is expanding the pilot implementation of the ProtecTEEN
Program across key areas nationwide. In Northern Mindanao, the DSWD Field Office (FO) 10 formalized its partnership with the local government (LGU) of Cagayan de Oro City through the signing of a memorandum of agreement (MOA) on December 2 to support the enhanced implementation of the program in selected barangay. “The Enhanced ProtecTEEN Program carries one profound purpose: to advance the holistic wellbeing of our adolescent mothers by providing strengthened psychosocial interventions, opportunities for capacity building, parenting support, and access to resources that promote healing, empowerment, and resilience,” said Special See “Pregnancy,” A7
Economy BusinessMirror
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PSMA backs sugar import ban extension By Justine Xyrah Garcia
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HE Philippine Sugar Millers Association (PSMA) has backed the extension of the sugar import moratorium until December 2026, saying that the domestic supply is sufficient to support the longer ban. In a statement, PSMA said improved yields have increased local sugar production and inventories remain adequate, making the extension timely. “The extension helps restore buyer confidence, supports domestic price stability, and allows the industry to absorb existing stocks without the distorting effect of premature import signals,” it added. The millers’ group also said that the clear assurance that no sugar imports will be allowed until end-2026 helps prioritize domestic production and discourages “speculative behavior that undermines local producers.” While supporting the longer moratorium,
IPOPHL. . . Continued from A6
harvesting and branding aligned with strong intellectual property protection. For Korea’s part, MOIP and Kipa will lead the research, design and development of the equipment and brands. IPOPHL, meanwhile, through the Bureau of Trademarks as the local project manager, will oversee field activities, coordination, monitoring and awareness campaigns. OKB, as the beneficiar y, will be responsible for site preparation, operation, s a f e t y, f e e d b a c k a n d c o m m u n i t y engagement. IPOPHL Ac ting D ire c tor General Nathaniel S. Arevalo said the signing of the deal, when guided by purpose, can uplift communities. “That IP, when made accessible and meaningful, can empower local industries; and that international cooperation, when rooted in trust, can open doors to long-term, sustainable development,” added Arevalo. Erika O. Pereña, Association President of OKB, the project’s beneficiary, said the MOU signals “our readiness to move forward to ensure the effective use of the developed elemi oil extractor to enhance branding strategies and to cultivate an ecosystem where farmers, processors, entrepreneurs
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Assistant to the Secretary (SAS) for Field Office Special Programs and FO 10 concurrent officer-incharge Regional Director Ramel Jamen. Jamen said the partnership seeks to strengthen psychosocial support, parenting interventions, and service referral mechanisms for adolescent mothers and their children, marking another milestone in the local expansion of the program. He emphasized that the initiative also recognizes the importance of nurturing children born to adolescent mothers and engaging families to help create a supportive environment that promotes long-term recovery and personal growth. The DSWD, has likewise, conducted data-gathering activities in various pilot areas nationwide as part of the evaluation phase of the ProtecTEEN Program. These efforts aim to ensure that program enhancements and policy directions are grounded in field realities and actual outcomes experienced by beneficiaries. As part of its continuing expansion, the DSWD is set to conduct a project launch and payout activity in Iloilo Province, providing eligible adolescent mother-beneficiaries with social assistance and complementary services. “With the enhancements introduced to the program anchored on empirical data, field insights, and the evolving needs of our adolescent mother, we are taking a significant step forward in our collective pursuit to address
PSMA called for continued monitoring of supply and demand conditions. “Transparent, data-driven oversight is essential to sustaining industry confidence and protecting both producers and consumers,” it added. The group also said it supports the planned rules on molasses imports, under which locally produced molasses must first be absorbed before any importation is allowed. They added that the measure would strengthen domestic value chains and protect downstream industries. The Department of Agriculture earlier said the sugar import ban would remain in place until December next year, citing stronger domestic production and the need to stabilize the market. Agriculture Secretary Francisco P. Tiu Laurel Jr. also said they will intensify monitoring of refinery operations and inventories while also finalizing rules governing molasses imports. and local institutions collaborate with shared purpose.” Pereña also noted the completion of this project marks a milestone not only for the Pili industry but for the entire Bicol region. “Beyond technology, this projec t restores dignity to local production and affirms our identity as a global ready Bicolano MSMEs and innovators,” she noted. Meanwhile, for Korea, Kipa Vice President Dong Wan Kim said he is optimistic that “direction, technology and the brand developed through the project will provide tangible benefits to the local economy and become a breakthrough success in the global market.” IPOPHL said the initiative builds on a proposal first developed in 2022 by OKB and IPOPHL’s Bureau of Trademarks (BOT). Accepted by KIPA in 2023 for the 2025 cycle, the project received full endorsement from IPOPHL and the then-National Economic and Development Authority (NEDA). Field missions conducted in 2023 and 2025 helped finalize the technology design and branding direction. The IP Sharing Projec t suppor ts community enterprises through Appropriate Technology (AT) and One Village One Brand (OVOB) programs. It follows four stages: feasibility review, research and development, technology localization and IP-based commercialization. adolescent pregnancy. We aim to bridge service gaps, improve referral pathways, enhance developmental interventions, and strengthen community-based support systems that safeguard our young mothers’ rights and future,” Jamen explained. The DSWD, in partnership with LGUs and other institutions, said it remains committed to scaling up the ProtecTEEN Program as a nationwide campaign through sustained collaboration to help curb adolescent pregnancy and mitigate its long-term social impact. Meanwhile, at the House of Representatives, Party-list Rep. Jernie Nisay of Pusong Pinoy filed House Bill 5410, which seeks to establish a national policy on preventing adolescent pregnancies and institutionalizing social protection for adolescent parents. A dole s ce nt pre g n a nc y re mains a major public health and social concern in the Philippines, with long-term impacts on the health, education, and economic opportunities of young Filipinos. The United Nations Population Fund (UNFPA) has noted that the Philippines has one of the highest adolescent birth rates in Southeast Asia, with thousands of girls aged 10 to 19 giving birth each year. Early pregnancy often disrupts education, limits employment prospects, and perpetuates cycles of poverty, posing challenges to national development and the country’s commitments under the Sustainable Development Goals (SDGs). Despite existing interventions, gaps in coordination, inconsistent program implementation, and limited access to age-appropriate
Wednesday-Friday, December 24-26, 2025
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Congress OKs ₧3.65 billion DOT budget, doubles branding funds By Ma. Stella F. Arnaldo
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Special To The Businessmirror
AWMAKERS approved the 2026 budget of the DOT and its attached agencies, giving these funds amounting to P3.65 billion. During the Bicameral Conference Committee of the Senate and the House of Representatives on December 17, lawmakers increased the Branding Campaign budget for DOT-Office of the Secretary (Osec) to P1 billion, double that of the P500 million originally proposed under the National Expenditure Program (NEP) 2026. The committee, likewise, increased DOT-Osec’s to P699 million for its General Management and Supervision (from the original proposed P621.15 million), but decreased to P644.58 million the funds for Tourism Planning (from P723.4 million). Only Sen. Imee R. Marcos questioned the increase in the agency’s branding budget, citing the 2.3-percent drop in visitor arrivals in the first 10 months of the year to 4.77 million. “The ‘Love the Philippines’ campaign was launched in June 2023, so why is there an allocation every year? Is it going to be changed again,” she asked in mix of Filipino and English. “Besides, we have such a poor performance [in visitor arrivals].” Sens. Loren Legarda and Sherwin Gatchalian explained that the additional branding funds are needed to promote the country to other markets, considering that tourists from China remain low. Prior to the pandemic, China was the second top source market of tourists for sexual and reproductive health education and services persist. Socio-cultural barriers, misinformation, and stigma continue to hinder adolescents—particularly young women—from accessing accurate information and essential support. House Bill 5410 seeks to address these gaps by institutionalizing a comprehensive national policy through the creation of the National Program on the Prevention of Adolescent Pregnancy (NPPAP). The program will be jointly implemented by the Commission on Population and Development (Popcom), the Council for the Welfare of Children (CWC), the Department of Health (DOH), and other concerned agencies, in partnership with LGUs, academic institutions, and civil society organizations. The measure aims to strengthen institutional coordination, promote evidence-based policymaking, and ensure that adolescent health and development are integrated into national and local development plans with robust monitoring and evaluation mechanisms. It also mandates the delivery of comprehensive sexuality education, the expansion of adolescent-friendly health services, and the creation of safe and inclusive spaces for youth participation. Through these initiatives, the government seeks to reaffirm its commitment to safeguarding the rights and well-being of adolescents, reducing the incidence of adolescent pregnancy, and promoting responsible parenthood, gender equality, and inclusive growth for all Filipinos. Jovee Marie N. dela Cruz
the Philippines, with 1.7 million arrivals then.
Fix issues first, says Imee
BOTH senators underscored that tourism is a “low hanging fruit,” which benefits some 30 percent of the population directly and indirectly. While Marcos said she understood these points, she said it was better to put the country in order first, such as solve its “peace and order” issues, for one, and improve its “intermodal transportation,” for another, to keep travel fares within the islands competitive, before increasing the branding campaign budget of the DOT. In an interview with the BusinessMirror, Tourism Secretary Christina Garcia Frasco expressed gratitude to the Bicam Committee
members for the approval of her agency’s budget and the increase in its branding campaign funds. “ T he additional promotion funding will be prioritized for comprehensive global promotions across various platforms, including digital and traditional media, and strategic partnerships. This strategy focuses on key international markets needing targeted support, as well as emerging and high-potential markets showing strong signs of recovery and growth, while also advancing image recovery efforts to reinforce confidence in the Philippines as a safe, welcoming, and world-class destination,” she said.
Priority projects for 2026
“IMPLEMENTATION will be carried out in close consultation with tourism stakeholders, including industry partners, local government units, and market specialists. These consultations ensure that our branding and promotional efforts are aligned with priority tourism products, including gastronomy, wellness, health, leisure, adventure, sports, and cultural tourism, among others, as well as destination readiness and the specific needs of each market, so that promotion is
matched by quality experiences on the ground,” she added. Major priority projects in 2026, she said, include the hosting of the Asean Tourism Forum in January, the launch of a Transit Tour and Medical Tourism Concierge at the Ninoy Aquino International Airport-Terminal 1, additional Tourist Rest Areas (TRA), the second tranche of the Tourism Champions Challenge, awarding Tourism Startup Challenge, expanding the Philippine Dive Experience to support the DOT’s Visit Cebu Program, and expanding Philippine Experience Program, among others. TRAs however, are constructed from funds of the Tourism Infrastructure and Enterprise Zone Authority, the infrastructure arm of the DOT. The Bicam Committee also increased to P10 million the Tourism Marketing and Promotions budget of the Intramuros Administration, from the original proposed P4.8 million, while the National Parks and Development Committee was given P172.78 million for the development, beautification, preservation, and maintenance of the Rizal Park and satellite parks, a slight increase from its proposed P171.54 million.
Wednesday-Friday, December 24-26, 2025
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TheWorld
Editor: Angel R. Calso
Thailand and Cambodia to resume crucial ceasefire talks after deadly border clashes
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UALA LUMPUR, Malaysia— Thailand and Cambodia will resume talks later this week to work toward a more durable ceasefire along their border, Thailand’s foreign minister said Monday, stressing that progress depends on detailed bilateral negotiations rather than public declarations that internationalize the dispute. A ceasefire agreement in October was rushed to ensure it could be witnessed by US President Donald Trump and lacked sufficient details to ensure the deal to end the armed conflict would hold, Thai Foreign Minister Sihasak Phuangketkeow said after an Association of Southeast Asian Nations foreign ministers’ meeting in Kuala Lumpur. While Cambodia has publicly said it is ready for an unconditional ceasefire, Bangkok never received any direct proposal and Thailand believed such statements were aimed at increasing international pressure rather than resolving the issue, Sihasak said following the Asean meeting that was arranged
to seek ways to end the crisis. The general border committee involving both nations will meet Wednesday to iron out detailed measures toward a lasting ceasefire, he said. Thailand appreciates the US effort but “in the end, it’s up to the two counties to be ready and sort things out bilaterally,” he said. “This time, let’s thrash out the details and make sure the ceasefire reflects the situation on the ground and the ceasefire is one that really holds, and both sides are going to fully respect the ceasefire,” Sihasak told a news conference. The border conflict escalated into deadly combat two weeks ago and derailed the agreement
promoted by Trump, which ended five days of fighting in July. The agreement was brokered by Malaysia and pushed through under pressure from Trump, who threatened to withhold trade privileges unless Thailand and Cambodia agreed. The ceasefire was formalized with more detail at an October regional summit in Malaysia attended by Trump. Meanwhile, fighting persists and both sides continue to trade accusations. Cambodia’s Defense Ministry in a statement on Tuesday condemned Thai aggression in its territory that it said targeted civilian areas. It said Cambodia wants a just, equitable and lasting solution to the dispute and demands that Thailand halt combat and withdraw its troops. Malaysia, who is this year’s Asean chair, said in a statement after Monday’s meeting that Asean foreign ministers “expressed hope for de-escalation of hostilities as soon as possible.” The Philippines, who takes over as Asean chair next year, said in a separate statement that it is prepared to assume the role of facilitator or mediator between Cambodia and Thailand if necessary. The fighting has drawn international concern. The US Department of State on Sunday urged both sides to “end hostilities,
VILLAGE security volunteers patrol as the Thai military fires artillery towards Cambodia on Saturday, December 20, 2025, in Surin province, Thailand. AP/WASON WANICHAKORN
withdraw heavy weapons, cease emplacement of landmines, and fully implement the Kuala Lumpur Peace Accords, which include mechanisms to accelerate humanitarian demining and address border issues.” The fighting is a result of a dispute over patches of territory claimed by both nations along their shared border. The latest round of fighting began Dec. 8, a day after a border skirmish wounded two Thai soldiers. Since then, combat has broken out on several fronts, with Thailand carrying out airstrikes in Cambodia with F-16 fighter jets
and Cambodia firing thousands of medium-range BM-21 rockets from truck-mounted launchers that can launch up to 40 rockets simultaneously. More than three dozen people on both sides of the border have officially been reported killed in the past week of fighting, while more than half a million have been displaced, according to officials. Under the October truce Thailand was to release 18 Cambodian soldiers held prisoner and both sides were to begin removing heavy weapons and land mines along the border. But the two countries have carried on a bitter propaganda war
with minor cross-border violence. Land mine explosions have been a particularly sensitive issue for Thailand, which has lodged several protests after alleging Cambodia laid new mines that wounded soldiers patrolling the frontier. Cambodia insists the mines were remnants of its decades-long civil war, which ended in 1999. “ T hese were c learly newly planted landmines, and this was confirmed by the Asean observer team,” Sihasak said Monday, calling it a “clear violation” of the October agreement. (AP) The Thai navy said Sunday one of its marines on the front line sustained serious injuries to his right leg from stepping on a land mine. The navy also claimed to have discovered a large number of abandoned weapons and explosive ordnance while securing an area described as a Cambodian stronghold, which showed “deliberate planning and intentional use of anti-personnel landmines” against Thai troops. The Thai Foreign Ministry said it would send letters of protest to Cambodia and Zambia, the current chair of the Anti-Personnel Mine Ban Convention, also known as the Ottawa Convention, to pursue further action under the convention’s mechanisms. Cambodia did not immediately respond to the Thai claims.
Sudan’s prime minister takes his peace plan to UN, but US urges humanitarian truce now By Edith M. Lederer The Associated Press
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NITED NATIONS—Sudan’s prime minister on Monday proposed a wideranging peace initiative to end a nearly 1,000-day war with a rival paramilitary force, but the United States urged both sides to accept the Trump administration’s call for an immediate humanitarian truce. Kamil Idris, who heads Sudan’s transitional civilian government, told the Security Council his plan calls for a ceasefire monitored by the United Nations, African Union and Arab League, and the withdrawal of paramilitary forces from all areas they occupy, their placement in supervised camps and their disarmament. Sudan plunged into chaos in April 2023 when a power struggle between the military and the powerful paramilitary Rapid Support Forces exploded into open fighting, with widespread mass killings
and rapes, and ethnically motivated violence. This has amounted to war crimes and crimes against humanity, according to the U.N. and international rights groups. It seemed highly unlikely the RSF would support the prime minister’s proposal, which would essentially give government forces a victory and take away their military power. In an indirect reference to the truce supported by the US and key mediators Saudi Arabia, Egypt and the United Arab Emirates, known as the Quad, Idris stressed to the U.N. Security Council that the government’s proposal is “homemade -- not imposed on us.” In early November, the Rapid Support Forces agreed to a humanitarian truce. At that time, a Sudanese military official told The Associated Press the army welcomed the Quad’s proposal but would only agree to a truce when the RSF completely withdraws from civilian areas and gives up their weapons—key provisions in the
SUDANESE soldiers from the Rapid Support Forces unit, led by Gen. Mohammed Hamdan Dagalo, the deputy head of the military council, secure the area where Dagalo attends a military-backed tribe’s rally, in the East Nile province, Sudan, June 22, 2019. AP/HUSSEIN MALLA
plan Idris put forward on Monday. Idris said unless the paramilitary forces were confined to camps, a truce had “no chance for success.” He challenged the 15 members of the Security Council to back his proposal. “This initiative can mark the moment when Sudan steps back from the edge and the international community—You! You!—stood
on the right side of history,” the Sudanese prime minister said. He said the council should “be remembered not as a witness to collapse, but as a partner in recovery.” US deputy ambassador Jeffrey Bartos, who spoke to the council before Idris, said the Trump administration has offered a humanitarian truce as a way for ward and “ We urge
both belligerents to accept this plan without preconditions immediately.” Bartos said the Trump administration strongly condemns the horrific violence across Darfur and the Kordofan region—and the atrocities committed by both the Sudanese Armed Forces and the Rapid Support Forces, who must be held accountable. UAE Ambassador Mohamed Abushahab, a member of the Quad, said there is an immediate opportunity to implement the humanitarian truce and get aid to Sudanese civilians in desperate need. “Lessons of history and present realities make it clear that unilateral efforts by either of the warring parties are not sustainable and will only prolong the war,” he warned. Abushahab said a humanitarian truce must be followed by a permanent ceasefire “and a pathway towards civilian rule independent of the warring parties.” U.N. Assistant Secretary-General for political affairs Khaled
Khiari reflected escalating council concerns about the Sudan war, which has been fueled by the continuing supply of increasingly sophisticated weapons. He criticized unnamed countries that refuse to stop supplying weapons, and both government and paramilitary forces for remaining unwilling to compromise or de-escalate. “While they were able to stop fighting to preserve oil revenues, they have so far failed to do the same to protect their population,” Khiari said. “The backers of both sides must use their influence to help stop the slaughter, not to cause further devastation.” The devastating war in Sudan has killed more than 40,000 people according to U.N. figures, but aid groups say the true number could be many times higher. The conflict has created the world’s largest humanitarian crisis, with over 14 million people displaced, disease outbreaks and famine spreading in parts of the country.
Wednesday-Friday, December 24-26, 2025
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Scientists and data explain why Kenya’s lakes are rising as thousands face uncertain future
RESIDENTIAL buildings are submerged after Lake Naivasha swelled and flooded homes, displacing hundreds in Kihoto Village, in Naivasha, Kenya’s Rift Valley region, Tuesday, Nov. 11, 2025. AP/ANDREW KASUKU By Nicholas Komu & Zelipha Kirobi The Associated Press
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AIVASHA, Kenya—When Dickson Ngome first leased his farm at Lake Naivasha in Kenya’s Rift Valley in 2008, it was over 2 kilometers (1.2 miles) from shore. The farm was on 1.5 acres (0.6 hectares) of fertile land where he grew vegetables to sell at local markets. At the time, the lake was receding and people were worried that it might dry up altogether. But since 2011, the shore has crept ever closer. The rains started early this year, in September, and didn’t let up for months. One morning in late October, Ngome and his family woke up to find their home and farm inside the lake. The lake levels had risen overnight and about a foot of water covered everything. “It seemed as if the lake was far from our homes,” Ngome’s wife, Rose Wafula, told The Associated Press. “And then one night we were shocked to find our houses flooded. The water came from nowhere.”
Climate change caused increased rains, scientists say
THE couple and their four children have had to leave home and are camping out on the first floor of an abandoned school nearby. Some 5,000 people were displaced by the rise in Lake Naivasha’s levels this year. Some scientists attribute the higher levels to increased rains caused by climate change, although there may be other factors causing the lake’s steady rise over the past decade. The lake is a tourism hot spot and surrounded by farms, mostly growing flowers, which have gradually been disappearing into the water as the lake levels rise. Rising levels have not been isolated to Naivasha: Kenya’s Lake Baringo, Lake Nakuru and Lake Turkana— all in the Rift Valley—have been steadily rising for 15 years. “The lakes have risen almost beyond the highest level they have ever reached,” said Simon Onywere, who teaches environmental planning at Kenyatta University in Kenya’s capital Nairobi.
Rising lake levels displaced tens of thousands
A STUDY in the Journal of Hydrology last year found that lake areas in East Africa increased by 71,822 square kilometers (27,730 square miles) between 2011 and 2023. That affects a lot of people: By 2021, more than 75,000 households had been displaced across the Rift Valley, according to a study commissioned that year by the Kenyan Environment Ministry and the United Nations Development Program. In Baringo, the submerged buildings that made headlines in 2020 and 2021 are still underwater. “In Lake Baringo, the water rose almost 14 meters,” Onywere said. “Everything went under, completely under. Buildings will never be seen again, like the Block Hotels of Lake Baringo.”
Flower farms taking a beating
LAKE Naivasha has risen steadily too, “engulfing three quarters of some flower farms,” Onywere said. Horticulture is a major economic sector in Kenya, generating just over a billion US dollars in revenue in 2024 and providing 40% of the volume of roses sold in the European Union, according to Kenya’s Ministry of Foreign Affairs. Significant research has gone into the reasons behind the rising lakes phenomenon: A 2021 study on the rise of Kenya’s Rift Valley lakes was coauthored by Kenyan meteorologist Richard Muita, who is now acting assistant director of the Kenya Meteorological Department. “There are researchers who come up with drivers that are geological, others with reasons like planetary factors,” Muita said. “The Kenya Meteorological Department found that the water level rises are associated with rainfall patterns and temperature changes. When the rains are plentiful, it aligns with the increase in the levels of the Rift Valley Lake waters.” See “Kenya,” A13
A10 Wednesday-Friday, December 24-26, 2025
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Clashes flare as Turkish officials visit Syria ahead of deadline for Kurdish integration By Ghaith Alsayed
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The Associated Press
AMASCUS, Syria—Clashes erupted between Syrian security forces and Kurdish fighters on Monday as top Turkish officials visited Damascus ahead of a deadline to implement a deal between the government and Kurdish-led forces in the country’s northeast. Syria’s state-run SANA news agency reported that two civilians were killed and 15 were wounded by shelling, and that dozens of families fled two neighborhoods of the northern Syrian city of Aleppo, which has seen previous outbreaks of violence. The Kurdish-led Syrian Democratic Forces, or SDF, said 17 people were wounded and a woman was killed. The conflicting casualty reports could not immediately be reconciled. L ate on Mond ay e ven i ng , the Syrian defense ministry announced an order to halt fire, and SDF then did the same, citing “ongoing de-escalation efforts.” It was not immediately clear how the new clashes in Aleppo’s Sheikh Maqsoud and Achrafieh
neighborhoods started. Syria’s Civil Defense agency said two of its emergency responders were wounded after fighters with the Kurdish-led SDF opened fire on their vehicle. A statement from the Kurdishled forces accused Syrian government forces of opening fire on a Kurdish checkpoint, while government officials accused the SDF of attacking first. In Damascus, the Syrian capital, Turkish Foreign Minister Hakan Fidan said his talks with Syrian officials focused on the integration of the SDF into the new Syrian army, as well as on Israel’s military incursions in southern Syria and the fight against the Islamic State group. “Syria’s stability means Tur-
key’s stability. This is extremely important for us,” he said, appearing alongside his Syrian counterpart, Asaad al-Shibani. He called on the SDF to “cease to be an obstacle to Syria achieving stability, unity and prosperity.” Fidan’s delegation, which also included Turkish Defense Minister Yasar Guler and intelligence chief Ibrahim Kalin, also met with Syrian interim President Ahmad al-Sharaa.
The integration deal faces obstacles
UNDER the March agreement signed between al-Sharaa’s government and the SDF, the Kurdish-led force was to merge with the new Syrian army, but details were left vague and implementation has stalled. A major sticking point had been whether the SDF would remain as a cohesive unit in the new army or whether it would be dissolved and its members individually absorbed into the new military. Tu rk e y h a s b e e n op p ose d to the SDF joining as a single unit. Ankara considers the SDF as a terrorist organization because of its association with the Kurdistan Workers’ Party, or PKK, which has waged a longrunning insurgency in Turkey, although a peace process is now under way. Kurdish officials have said that a preliminary agreement has been
TURKISH Foreign Minister Hakan Fidan, left, and his Syrian counterpart Asaad al-Shibani hold a joint news conference after their meeting in Damascus, Syria, Monday, Dec. 22, 2025. AP/GHAITH ALSAYED
reached to allow three divisions affiliated with the SDF to integrate as units into the new army, but it’s unclear how close the sides are to finalizing it. The original deadline for implementation of the March deal was the end of the year, and there have been fears of a military confrontation if progress is not made by then. Al-Shibani, the Syrian foreign minister, accused the SDF of “systematic procrastination.” “We have not seen an initiative or a serious will from the Syrian Democratic Forces to implement this agreement,” he said, adding that Damascus had submitted a proposal to the SDF for moving
forward with the military merger. He said a response was received on Sunday, without elaborating.
Turkey slams Israel’s presence in Syria
FIDAN criticized Israel’s “expansionist policies” in Syria and accused the SDF of coordinating with Israel, without giving evidence. Israel has been wary of new authorities in Syria since the fall of former President Bashar Assad in December 2024. Although al-Sharaa, the former leader of an Islamist insurgent group, has said he does not want a conflict with Israel, Israeli forces have moved to seize
a U.N.-patrolled buffer zone in southern Syria and have launched hundreds of airstrikes on Syrian military sites. While Turkey had a complicated relationship with al-Sharaa when he was the leader of Hayat Tahrir al-Sham, a militant group that controlled much of northwestern Syria, Ankara has backed his government since he led a charge that overthrew Assad. Turkey, along with Saudi Arabia and Qatar, has intervened to persuade US President Donald Trump to lift decades-old sanctions on Syria. The Turkish military has also provided support to the new Syrian army, including training cadets and officers. Asked about the possibility of a Turkish intervention against the SDF in Syria, Omer Celik, spokesman for Turkish President Recep Tayyip Erdogan’s ruling party, told reporters at a news conference last Friday that Turkey’s military has preparations in place to ensure Turkey’s security. But, he added: “We don’t want this to be necessary.” “ The agreement’s provision must be implemented quickly,” he said, and “in the coming period, we should focus our energy on Turks, Kurds, and Arabs living together in prosperity and peace.” The Associated Press writer Suzan Frazer in Ankara, Turkey, contributed to this report.
Denmark and Greenland slam Trump’s envoy appointment as ‘annexation’ threat by the US By Geir Moulson & Aamer Madhani The Associated Press
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H E leaders of Denmark and Greenland insisted Monday that the United States won’t take over
Greenland and demanded respect for their territorial integrity after President Donald Trump announced the appointment of a
special envoy to the semi-autonomous territory. Trump’s announcement on Sunday that
Louisiana Gov. Jeff Landry would be the envoy prompted a new flare-up of tensions over Washington’s interest in the vast territory of Denmark, a NATO ally. Denmark’s foreign minister told Danish broadcasters that he would summon the US ambassador to his ministry. “We have said it before. Now, we say it again. National borders and the sovereignty of states are rooted in international law,” Danish Prime Minister Mette Frederiksen and her Greenlandic counterpart, Jens-Frederik Nielsen, said in a joint statement. “They are fundamental principles. You cannot annex another country. Not even with an argument about international security.” “Greenland belongs to the Greenlanders and the US shall not take over Greenland,” they added in the statement e-mailed by Frederiksen’s office. “We expect respect for our joint territorial integrity.” Trump called repeatedly during his presidential transition and the early months of his second term for US jurisdiction over Greenland, and has not ruled out military force to take control of the mineral-rich, strategically located Arctic island. In March, Vice President JD Vance visited a remote US military base in Greenland and accused Denmark of under-investing there. The issue gradually drifted out of the headlines, but in August, Danish officials summoned the top US diplomat in Copenhagen following a report that at least three people with connections to Trump had carried out covert influence operations in Greenland. “We need Greenland for national security,” Trump told reporters on Monday at his Mar-a-Lago resort in Florida, when asked about Landry’s appointment. “And if you take a look at Greenland, you look up and down the coast you have Russian and Chinese ships all over the place.” On Sunday, Trump announced Landry’s appointment, saying on social media that “Jeff understands how essential Greenland is to our National Security, and will strongly advance our Country’s Interests for the Safety, Security, and Survival of our Allies, and indeed, the World.” The US president on Monday said Landry approached him about being appointed as an envoy.
“He’s a deal guy. He is a deal-maker type guy,” Trump said. Landry wrote in a post on social media after Trump announced the appointment that “it’s an honor to serve you in this volunteer position to make Greenland a part of the US.” The governor will continue to serve in his elected position in Louisiana. The Trump administration did not offer any warning ahead of the announcement, according to a Danish government official, who spoke on condition of anonymity to discuss internal deliberations. The official also said Danish officials had expected Trump to signal an aggressive approach to Greenland and the Arctic in the US administration’s new national security strategy and were surprised when the document included no mention of either. Deputy White House press secretary Anna Kelly said Monday that Trump decided to create the special envoy role because the administration views Greenland as “a strategically important location in the Arctic for maintaining peace through strength.” Danish broadcasters T V2 and DR reported that in comments from the Faroe Islands Monday, Danish Foreign Minister Lars Løkke Rasmussen said he would summon the US ambassador in Copenhagen, Kenneth Howery, to his ministry. Greenland’s prime minister wrote in a separate statement that Greenland had again woken up to a new announcement from the US president, and that “it may sound significant. But it changes nothing for us here at home.” Nielsen noted that Greenland has its own democracy and said that “we are happy to cooperate with other countries, including the United States, but this must always take place with respect for us and for our values and wishes.” Earlier this month, the Danish Defense Intelligence Service said in an annual report that the US is using its economic power to “assert its will” and threaten military force against friend and foe alike. Denmark is a member of the European Union as well as NATO. Madhani reported from West Palm Beach, Fla.
Wednesday-Friday, December 24-26, 2025 A11
Trump issues stark warning to Maduro as US ramps up pressure on Venezuelan oil tankers
PRESIDENT Donald Trump departs after speaking at his Mar-a-Lago club, Monday, Dec. 22, 2025, in Palm Beach, Fla. AP/ALEX BRANDON By Aamer Madhani, Regina Garcia Cano & Emma Burrows The Associated Press
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EST PALM BEACH, Fla.—President Donald Trump on Monday delivered a new warning to Venezuelan President Nicolás Maduro as the US Coast Guard steps up efforts to interdict oil tankers in the Caribbean Sea as part of the Republican administration’s escalating pressure campaign on the government in Caracas. Trump was surrounded by his top national security aides, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, as he suggested that he remains ready to further escalate his four-month pressure campaign on the Maduro government, which began with the stated purpose of stemming the flow of illegal drugs from the South American nation but has developed into something more amorphous. “If he wants to do something, if he plays tough, it’ll be the last time he’ll ever be able to play tough,” Trump said of Maduro as he took a break from his Florida holiday vacation to announce plans for the Navy to build a new, large warship. Trump levied his latest threat as the US Coast Guard on Monday continued for a second day to chase a sanctioned oil tanker that the Trump administration describes as part of a “dark fleet” Venezuela is using to evade US sanctions. The tanker, according to the White House, is flying under a false flag and is under a US judicial seizure order. “It’s moving along and we’ll end up getting it,” Trump said. It is the third tanker pursued by the Coast Guard, which on Saturday seized a Panama-flagged vessel called Centuries that US officials said was part of the Venezuelan shadow fleet. The Coast Guard, with assistance from the Navy, seized a sanctioned tanker called Skipper on Dec. 10, also part of the shadow fleet of tankers that the US says operates on the fringes of the law to move sanctioned cargo. That ship was registered in Panama. Trump, after that first seizure, said the US would carry out a “blockade” of Venezuela. Trump has repeatedly said that Maduro’s days in power are numbered. Last week, Trump demanded that Venezuela return assets that it seized from US oil companies years ago, justifying anew his announcement of a blockade against sanctioned oil tankers traveling to or from the South American country. Homeland Security Secretary Kristi Noem, whose agency oversees the Coast Guard, said in a Monday appearance on “Fox & Friends” that the targeting of tankers is intended to send “a message around the world that the illegal activity that Maduro is participating in cannot stand, he needs to be gone, and that we will stand up for our people.”
Russian diplomats evacuate families from Caracas
Meanwhile, Russia’s Foreign Ministry started evacuating the families of diplomats from Venezuela, according to a European intelligence official speaking on condition of anonymity to discuss sensitive information. The official told The Associated Press the evacuations include women and children and began on Friday, adding that Russian Foreign Ministry officials are assessing the situation in Venezuela in “very grim tones.” The ministry said in an X posting that it was not evacuating the embassy but did not address queries about whether it was evacuating the families of diplomats. Venezuela’s Foreign Minister Yván Gil on Monday said he spoke by phone with his Russian counterpart, Sergey Lavrov, who he said expressed Russia’s support for Venezuela against Trump’s declared blockade of sanctioned oil tankers. “We reviewed the aggressions and flagrant violations of international law that have been committed in the Caribbean: attacks against vessels and extrajudicial executions, and the unlawful acts of piracy carried out by the United States government,” Gil said in a statement. See “Trump,” A13
A12 Wednesday-Friday, December 24-26, 2025
DSWD to expand ‘Walang Gutom Kitchen’ by ‘26; seeks volunteers, partners for holiday ops By Jovee Marie N. Dela Cruz
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@joveemarie
HE Department of Social Welfare and Development (DSWD) is calling for stronger private sector partnerships and increased public participation as it plans to expand the Walang Gutom Kitchen (WGK) to more cities and regions in 2026. Meanwhile, the soup kitchen will remain open and continue accepting walk-in families and individuals experiencing hunger throughout the holidays and the remaining days of December. Wet Christmas may prevail over Luzon due to NE monsoon, easterlies–PAGASA
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HILE typhoon is not in the radar of the country’s weather bureau, it says the islands of Batanes and Babuyan Islands, two areas frequently devastated by severe weather events, will experience partly cloudy to cloudy skies with isolated light rains due to the northeast monsoon on December 24 and 25. Meanwhile, the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) said the easterlies will bring generally partly cloudy skies with the probability of isolated rainshowers or thunderstorms, mostly over the eastern sections of the country. On Christmas Day itself, the NE monsoon will bring mostly cloudy skies with scattered light rains over Batanes, Cagayan, and Apayao. In contrast, partly cloudy skies with isolated light rains will prevail over Metro Manila, MIMAROPA, Central Luzon, and Ilocos Region. The rest of Cordillera Administrative Region (CAR), the rest of Cagayan Valley, Cavite, Laguna, Batangas, and Rizal. The rest of the country will experience partly cloudy to cloudy skies with a chance of localized rain showers or thunderstorms due to easterlies. Light to moderate easterly to northeasterly winds with slight to moderate seas will prevail over the entire archipelago on December 24. Winds will be moderate to strong northeasterlies with moderate to rough seas over Northern Luzon, while light to moderate northeasterlies with slight to moderate seas will prevail over the sea. Jonathan L. Mayuga
The WGK is the first government-run soup kitchen in the country, established by the DSWD to address involuntary hunger, particularly among individuals and families in street situations. Currently, the WGK ser ves around 700 individuals daily, with approximately 300 to 350 meals provided during breakfast and another 300 to 350 during lunch. WGK Officer-in-Charge and Chief Administrative Officer Atty. Dwight Cruz emphasized that the kitchen is open to anyone in need and does not discriminate. “At the Walang Gutom Kitchen, we do not discriminate. Although our primary target is the homeless and children and families living on the streets, we serve everyone. As long as you are hungry and want to eat, and we still have food to serve, our doors are open,” Cruz explained. He also encouraged food donations and partnerships, noting that surplus food from hotels, restaurants, and other estab-
lishments could help sustain the kitchen’s daily operations. “There is a lot of surplus food, especially from hotels and restaurants. If you have excess food, we encourage you to donate it to the Walang Gutom Kitchen so we can serve it to Filipinos who are truly in need,” Cruz said. The DSWD currently partners with the Philippine Hotel Owners Association (PHOA), Scholars of Sustenance (SOS), and major fastfood chains, such as McDonald’s Philippines and Jollibee, which regularly donate food to the program. Cruz said the DSWD is carefully preparing for the program’s expansion, following Secretary Rex Gatchalian’s directive to strengthen the model before scaling up and in line with the President’s guidance. “Expanding the Walang Gutom Kitchen is already part of the plan, but as Secretary Gatchalian emphasized, we must first ensure that the model is solid since this is our first soup kitchen. Once we are
DOTr to build covered walkway linking Trinoma and SM North Edsa for safer commuter passage By Lorenz S. Marasigan @lorenzmarasigan
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HE Department of Transportation (DOTr) said on Tuesday it will construct a covered walkway connecting Trinoma and SM North Edsa in Quezon City to provide safer and more convenient passage for commuters and pedestrians. “We saw the situation at the walkway between the two malls, and commuters really have a difficult time there. When it rains, the pathway floods, causing significant hardship for those passing through, so we will put a roof over
that walkway,” Transportation Secretary Giovanni Lopez said. Currently, there is limited pedestrian access between the two malls. They have to cross the street under a construction area, where the Metro Rail Transit (MRT) Line 7 is being built. The MRT 3 management has inspected the existing walkway and installed temporary cement slabs in flood-prone sections to ensure safer passage during heavy rains. The transport chief said the covered walkway will eventually connect to the Common Station, providing seamless access to the MRT 3, MRT 7, and the Light Rail
Transit (LRT) Line 1. Both the Common Station and MRT 7 are scheduled to become operational in 2027. “ The DOTr and MRT 3 are closely coordinating with the mall operators for the immediate construction of the covered walkway. The DOTr will prioritize this project to get it roofed. This kind of experience for passengers should not last long,” Lopez said. The two shopping centers are major transit points for commuters using the MRT 3 North Avenue station, one of the busiest terminals in Metro Manila’s rail network.
ready, we will expand,” Cruz said. The long-term plan includes establishing WGK hubs in other cities in the National Capital Region and Regions 3 (Central Luzon), 4A (CALABARZON), and 7 (Central Visayas). Through the WGK, the DSWD said it will continue to advance its mission of ensuring that no Filipino goes hungry, while strengthening collaboration with local governments, private partners, and volunteers to make food security a shared responsibility.
Open on holidays
DSWD Secretary Gatchalian announced that the Walang Gutom Kitchen will remain open and continue accepting walk-in families and individuals experiencing hunger during the holidays and the remaining days of December. “We will be open until December 24, then reopen on December 26 and operate through December 31,” Gatchalian said. The kitchen
will be closed on December 25 and January 1, 2026. Gatchalian also encouraged individuals seeking meaningful ways to help this holiday season to volunteer at the kitchen. “If you are looking for a meaningful way to help this Christmas, you are welcome to serve here at the kitchen. You don’t need to bring food—though we will gladly accept it—but if all you can offer is your time, that is the best gift of all. Volunteer at the Walang Gutom Kitchen,” he said. Those interested in volunteering as food and water servers, registration personnel, or crowd control personnel may register at https://forms.gle/dVnewCCWbPyTbud16 or visit the WGK at the Nasdake Building along FB Harrison Street, Pasay City. “May the Walang Gutom Kitchen continue to stand as a symbol of hope this Christmas—a hope that we can end hunger once and for all,” Gatchalian said.
Workers’ Christmas list: wage hike, job security and clean governance
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ILIPINO workers have spelled out their Christmas wish list: higher pay, secure jobs, and clean governance, labor group SENTRO ng mga Nagkakaisa at Progresibong Manggagawa said as the year draws to a close. SENTRO said workers continue to grapple with rising prices, noting that proposals seeking a legislated P200 across-the-board wage increase failed to advance in Congress earlier this year. With no law passed, wage adjustments remain under the regional wage board system that labor groups have long called to be abolished.
“Earlier this year, the Senate willfully killed our proposals for a legislated Php 200 acrossthe-board wage increase. These bills were a manifestation of workers’ calls for livable wages, yet President Marcos Jr. and his administration responded with a resounding rejection,” SENTRO Chairperson Abdulani Lakibul said. “In the spirit of Christmas, it is crucial that the government address the ever-worsening costs for living and goods by strengthening the purchasing power of See “Wage hike,” A13
Davao Light cautions customers of wasteful electricity use during holidays By Manuel T. Cayon @awimailbox
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AVAO CITY—The Davao Light and Power Co., Inc. cautioned customers to avoid wasteful use of electricity during the holidays as it also announced it would be collecting cheaper rate for the last billing period. Its announcement came as the Energy Regulatory Commission granted the Aboitiz subsidiary the provisional authority to connect its customers to its network and start providing electricity.
The company said its customers “are in for a treat this holiday season with a lower overall residential electricity rate of P9.7135 per kilowatt-hour (kWh) applicable to bills received during the December 11 to January 10 billing period.” “This is mainly due to a decrease in power supply prices from the Wholesale Electricity Spot Market [WESM], one of the distribution utility’s power supply sources,” it said. The new rate is P0.3477/kWh lower than last month’s P10.0612/ kWh. “This results in a decrease of approximately P69.54 in the elec-
tric bill for typical households consuming 200 kWh and using essential appliances such as light bulbs, electric fans, an iron, a television, a rice cooker, a washing machine, and a refrigerator,” it added. “With this, Davao Light customers can further maximize their savings by continuing to mindfully use electricity throughout the holiday season. Here are some practical energy conservation and electrical safety tips for households: turn off and unplug Christmas lights earlier than usual to reduce electricity use, prevent overheating and fire incidents; use LED lights in
decorations because LED lights are the most energy-efficient lighting option currently available as they use less energy, last longer, and run much cooler than standard incandescent lights. Avoid substandard or counterfeit electrical Christmas products to prevent serious dangers, such as fires and electrocutions; secure electrical cords as the holiday season may see increased foot traffic that may get in the way of high-traffic pathways and areas; do not run cords through doorways or hide them under rugs or carpets, instead, cover them with
duct tape to avoid accidents such as people stumbling or worse, electrocution. Avoid overloading outlets because if there are too many things plugged in, it can be a fire hazard,” the Davao Light said. As the new year enters its 79th year of service, it disclosed that the provisional authority the ERC granted to the company will see it covering not only the cities of Davao, Panabo, and the municipalities of Carmen, Dujali, and Sto. Tomas in its franchise, but also the entire provinces of Davao del Norte and Davao de Oro.
Miss Universe Philippines Iloilo Province launches search for the next Ilongga Queen By C. Mendez Legaspi
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T the Iloilo Province and Miss Universe Philippines official contract signing at a restaurant in Quezon City on December 8 were newly appointed
local director, Erik Castelo, and MUPH vice president for Global and National Search, Mags Cue. They were joined by MIP consultants Caroline Monasterial and Hazel Gonzales of HG Studios Gorgeous Ilonggas of the Universe, don’t let your dreams remain dreams—it’s your time to seize this moment and show the global stage the heart, strength, and beauty of your province. The Miss Universe Philippines Iloilo Province Crown awaits as the search is on for the next paragon of “Love Woven in Beauty.” If you are a woman of grace, intellect, and Ilonggo spirit, you are invited to take your first step toward the national limelight, as the next Miss Universe Philippines (MUPH) Iloilo Province.
Located in the Western Visayas Region, Iloilo Province is considered the “Heart of the Philippines,” while its capital, Iloilo City, is regarded as the “City of Love.” It is known for its world-class cuisine, UNESCO World Heritage Sites, National Cultural Treasures, and beaches and sandbars. With more than two million people, it has already produced two representatives to Miss Universe: Louise Aurelio Vail, the first Binibining Pilipinas winner to place as a Top 15 semi-finalist in 1965, and Rabiya Mateo, the first Miss Universe Philippines, who landed in the Top 21 in 2020. On December 8, Iloilo Province officia l ly for ma lized its commitment to the MUPH Crown
by establishing the Miss Universe Philippines Iloilo Province. It was also announced that the upcoming titleholder will now be the definitive provincial delegate for the Miss Universe Philippines 2026 competition. The official contract was signed by the newly appointed local director, Erik Castelo—an Iloilobased fashion designer—and the Miss Universe Philippines vice president for global and national search, Mags Cue, at Pandan Asian Café in Quezon City. As the local director, Castelo aims to showcase Iloilo Province’s local tapestry, craftsmanship and weaving culture on the international stage of pageantry and beyond. He is also committed to
providing full support to the delegate’s national pageant journey and beyond. “We’re opening screenings for candidates with Ilonggo roots. For our ideal candidate, I think our slogan would represent her very much if she raises it, which is ‘Love Woven in Beauty.’ So, for us, of course, character is very important. That would be exemplified in her beauty, and exemplified in the beauty of our province as well,” Castelo explained. “MUPH Iloilo Province will mount the event to crown the representative in mid-January 2026. They are well prepared. So, everything is set. I’ve known Eric from way back,” Cue said, “And he See “Miss Universe,” A13
Wednesday-Friday, December 24-26, 2025 A13
Comelec halts COC filing for Bangsamoro polls By Justine Xyrah Garcia
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HE Commission on Elections (Comelec) has suspended the filing of certificates of candidacy (COCs) for the 2026 Bangsamoro parliamentary polls, citing the absence of an enacted redistricting law. In a resolution dated December 22, the Comelec said the January 5 to 9, 2026 COC filing period has been deferred pending compliance by the Bangsamoro Transition Authority (BTA) with a Supreme Court directive to determine parliamentary districts. “The Commission hereby resolves to suspend the January 5–9, 2026 period of filing certificates of candidacy for the 2026 BARMM Parliamentary Elections,” the poll body said in Resolution No. 11183. The poll body noted that the Supreme Court had ordered the BTA to complete the determination of parliamentar y districts by October 30, 2025, in preparation for the first regular parliamentar y elections in the Bangsamoro region. However, it said no districting measure has been enacted to date. “As of the present date, the BTA
Wage hike. . . Continued from A12
our workers through a substantial wage increase,” he added. It can be recalled that the proposed wage hike failed to become a law in the 19th Congress after the Senate and House of Representatives failed to convene a bicameral conference committee to reconcile their versions of the measure before they adjourned sine die on June 11. Both chambers passed on third and final reading their respective nationwide wage hike bills for all minimum wage earners—the House approved a P200 increase in early June 2025, while the Senate passed a P100 hike in February 2024. Beyond wages, SENTRO also reiterated its call for the passage of the Security of Tenure bill, which has been filed in previous Congresses but has yet to be passed into law. “Workers’ rights are not fully attained so long as contractualization remains the standard practice for corporations...It denies workers the benefits mandated to them
Kenya. . . Continued from A9
Sedimentation is also a factor. “From the research I have read, there’s a lot of sediment, especially from agricultural related activities, that flows into these lakes,” says Muita.
‘A mess’ made by the government years ago
NAIVASHA’S official high water mark was demarcated at 1,892.8 meters (6,210 feet) above sea level by the Riparian Association in 1906, and is still used by surveyors today. That means this year’s flooding was still almost a meter (3 feet) below the high mark. It also means that the community of Kihoto on Lake Naivasha where the Ngomes lived lies on riparian land—land that falls below the high water mark, and can only be owned by the government. “It ’s a mess established by the government…towards the late 1960s,” said Silas Wanjala, general manager of the Lake Naivasha Riparian Association, which was founded some 120 years ago and has been keeping meticulous records of the lake’s water levels since. Back then, a farmer was given a “temporary agricultural lease” on Kihoto, said Wanjala. When it later flooded and the farmer packed up and left, the farmworkers
has not complied with the above and no parliamentary districting has been enacted,” the resolution read. Comelec said proceeding with the filing of COCs without finalized districts would be improper, as the election process must align w ith approved parliamentar y boundaries. A new filing period will be set once the required districting law is passed. The Bangsamoro elections are scheduled for March 30, but the absence of an enacted parliamentary districting law has raised uncertainty over whether the polls can proceed as planned. The Bangsamoro Transition Authority (BTA), which currently serves as the region’s interim governing body, has said it is targeting December for the passage of the redistricting measure. With the BTA concluding its final session of the year without approving the bill, the Comelec said it is now considering endorsing a bill that would allow the parliamentary polls to be held alongside the barangay and Sangguniang Kabataan elections (BSKE) in November 2026. while providing less than the bare minimum wages necessary for decent living,” Lakibul pointed out. The group also raised concerns over the use of public funds, particularly for healthcare. While SENTRO welcomed the Supreme Court decision ordering the return of P60 billion in PhilHealth funds transferred to the national treasury, it said additional resources earmarked for universal healthcare should likewise be restored. The group said public funds should be dedicated strictly to public welfare, citing unpaid or diverted resources meant for health services. “The government has multitudes of wishes left unfulfilled, with workers’ demands only making up a fraction. While the government’s mandate is public service, the true champions for meaningful change and development are the people themselves. SENTRO’s final wish this Christmas season is that the working class organize and advance our calls for the welfare and benefit of all Filipino citizens,” it added. Justine Xyrah Garcia
stayed on the land and later applied for subdivisions, which were approved. In the 60-odd years since, a whole settlement has grown on land that is officially not for lease or sale. This also isn’t the first time it’s been flooded, said Wanjala. It’s just very rare that the water comes up this high. That’s little consolation for the people who have been displaced by this year’s floods and now cannot go home without risking confrontations with hippopotamuses. To support those people, the county is focusing its efforts on where the need is greatest. “We are tackling this as an emergency,” says Joyce Ncece, chief officer for disaster management in Nakuru County, which oversees Lake Naivasha. “The county government has provided trucks to help families relocate. We have been helping to pay rent for those who lack the finances.” Scientists like Onywere and Muita are hoping for longer-term solutions. “Could we have predicted this so that we could have done better infrastructure in less risk-prone areas?” Onywere said. Muita wants to see a more concerted global effort to combat climate change, as well as local, nature-based solutions centered on Indigenous knowledge, such as “conservation agriculture, where there is very limited disturbance of the land,” to reduce sedimentation of the lakes.
DMW pushes $500 minimum wage for OFWs in Middle East By Samuel P. Medenilla
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@sam_medenilla
HE Department of Migrant Workers (DMW) is eyeing to ramp up the voluntary adoption of the US$500 minimum wage for Filipino domestic workers in the Middle East next year, which has started gaining momentum after an initial 3,000 employers decided to implement it. The initiative is part of the phased implementation of the new long-term policy to uplift the working condition of Filipino domestic workers. DMW Secretary Hans J. Cacdac announced during his travel to the Middle East he will push for mainstreaming the implementation of Memorandum Circular (MC) No. 3, series of 2025. The three-page issuance provides the following incentives to employers, who will voluntarily comply with the new minimum wage rate: priority processing for accreditation, registration and reaccreditation; and access to a pool of skilled labor to facilitate skills matching and recruitment. For compliant Philippine recruitment agencies, he said the
incentives includes streamlined license renewal and branch establishment process, and automated acknowledgement of personnel changes. “What we are doing now is of course observing the job orders, which will receive and of course reaching out to the host countries. I will be traveling to the Middle East in the first half of 2026 along these lines,” Cacdac said in a press conference last Monday.
Market adjustment
THE outcome of the efforts by DMW to promote voluntarily compliance to MC 3, he said, will determine if they will extend the 6-month transition period for its implementation. Since MC 3 took last October,
Cacdac said employers for 3,000 job orders for Filipino domestic workers have already voluntarily complied with the US$500 minimum wage. He hopes they further increase it in the coming months once employers and host countries are familiarized with said policy. “It takes time for the market to adjust and to make it politically acceptable for some host countries but at this stage, three months into Labor Advisory 25, with 3,000 job orders then we are okay. We are on the right track,” Cacdac said. Most of those who voluntary complied are based in the Middle East, according to the DMW chief. He noted the government faced similar challenges in 2006 when it enforced the Household Service Workers’ (HSW) Policy Reform Package of 2006, which imposed a US$400 minimum wage for Filipino domestic workers. Some countries in the Middle East like the Kingdom of Saudi Arabia, which is currently among the top destination country for Filipino domestic workers, have expressed concern or rejected the new minimum wage rate. Cacdac, however, said they are still determined to push through with the implementation of MC 3.
Future-proof
WHEN asked if DMW is considering to implement a minimum wage rate per country, Cacdac said he is not keen on the said proposal
FFW flags possible union-busting in abrupt ecozone firm closure
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EDERATION of Free Workers (FFW) has flagged possible union-busting in the abrupt closure of a garments firm inside the Clark Freeport Zone, after the company announced the displacement of around 500 workers days before Christmas. In a statement on Tuesday, FFW said Charter Link Clark announced the shutdown during what was supposed to be a Christmas party, allegedly requiring workers to immediately receive notices of closure without prior consultation. “Charter Link is a real life ‘Grinch’ who stole Christmas. They stole all the love, joy and hope of their 500 workers with this hasty and abusive act...If a company turns its Christmas party into a meeting to hand out dismissal notices as ‘gifts,’ that is no longer a party—it is a wake, an act of disrespect and coercion,” said Arta Maines, vice president of the FFW Women’s Network. A copy of the company’s closure notice dated December 22, 2025 cited a “consistent decline in orders” over the past three years and zero projected sales for 2026, prompting the firm to cease opera-
tions effective January 22, 2026. “Given these challenges, the Company has decided to close its operations,” the notice read. Under the notice, workers were informed they would receive separation pay equivalent to half a month’s pay for every year of service or at least one month’s pay, whichever is higher, as well as pro-rated 13th month pay, cash conversion of unused leave credits, tax refunds if any, and one month’s salary in lieu of notice. FFW, however, questioned the timing and manner of the closure, noting that it came after the company lost a case involving the illegal dismissal of its union president and vice president before the Court of Appeals. The labor group said Charter Link has reportedly elevated the case to the Supreme Court. “If you have already lost in court over the illegal dismissal of union officers and then suddenly shut down without consultation just before Christmas—don’t call it a ‘closure.’ That is retaliation and union-busting,” said Eric Nalam, chairperson of FFW–Trade Fed-
eration 2 (Garments and Textile). “Closures must not be used as a shortcut to silence unions. Economic zones are not union-free zones. Workers should be free to unionize in Ecozones,” he added. FFW also alleged that workers were pressured to sign release documents during the meeting and reported incidents of intimidation, including threats that employees would be prevented from leaving the premises if they refused to comply. “From reports we received, Charter Link’s acts of deceit and coercion—forcing workers to sign release papers in front of alleged [Department Of Labor and Employment] officials, and threatening to lock them up in the factory with their armed security guards, if they refuse to do so—are unlawful and even criminal, if proven true,” Nalam added. The labor group also called on the DOLE and the Philippine Economic Zone Authority (PEZA) to immediately investigate the closure, ensure due process, and guarantee the release of workers’ final pay and benefits. Justine Xyrah Garcia
Trump. . .
themselves, but Manuel Salazar, who has parked cars at the beach for more than three decades, noticed differences from years past, when the country’s oil-dependent economy was in better shape and the energy industry produced at least double the current 1 million barrels per day. “Up to nine or 10 tankers would wait out there in the bay. One would leave, another would come in,” Salazar, 68, said. “Now, look, one.” The tanker in El Palito has been identified by Transparencia Venezuela, an independent watchdog promoting government accountability, to be part of the shadow fleet. Area residents on Sunday recalled when tankers would sound their horns at midnight New Year’s Eve, while some would even send up fireworks to celebrate the holiday.
“Before, during vacations, they’d have barbecues; now all you see is bread with bologna,” Salazar said of Venezuelan families spending the holiday at the beach next to the refinery. “Things are expensive. Food prices keep going up and up every day.” Venezuela’s ruling party-controlled National Assembly on Monday gave initial approval to a measure that would criminalize a broad range of activities that could be linked to the seizure of oil tankers. Lawmaker Giuseppe Alessandrello, who introduced the bill, said people could be fined and imprisoned for up to 20 years for promoting, requesting, supporting, financing or participating in “acts of piracy, blockades or other international illegal acts against”
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The scene on a Venezuelan beach near a refinery
WHILE US forces targeted the vessels in international waters over the weekend, a tanker that’s considered part of the shadow fleet was spotted moving between Venezuelan refineries, including one about three hours west of the capital, Caracas. The tanker remained at the refinery in El Palito through Sunday, when families went to the town’s beach to relax with children now on break from school. Music played on loudspeakers as people swam and surfed with the tanker in the background. Families and groups of teenagers enjoyed
since it can undercut or undermine Filipino domestic workers in some countries. He said they may consider the said option for rates higher than the indicative floor wage. In a policy brief, DMW’s Institute for Advanced and Strategic Studies on Migration and Development proposed three options to “future-proof ” the minimum wage of Filipino domestic workers abroad. The first option is phased bandbased floors, which will raise the minimum wage for the said countries by 2027: US$600 in highincome and strong enforcement countries; US$565 in upper middle-income moderate enforcement countries; and US$500 in destinations with weak enforcement. DMW is also considering a annual indexation from 2028, wherein minimum wage rates will be updated annually depending on inflation or poverty line and competency-based wage differentiation. “The adoption of a US$ 500 wage floor addresses an immediate gap in income adequacy for domestic workers. However, sustaining and operationalizing this reform requires more than onetime adjustment,” DMW said in the policy brief. “Without mechanisms for enforcement, indexation, and worker access to redress, the benefits of the wage increase may not be fully realized,” it added.
Miss Universe. . . Continued from A12
is into pageantry. He was the one who helped past beauty queens and dressed them up. He is going to be a good local director because he knows so much about pageantry.” Castelo is optimistic that they will attract quality candidates: “We know that the road towards the crown is very challenging. There’s a lot of sacrifices that entail for the candidates to endure, to overcome. But at the end of the day, it is a very good platform to be able to promote advocacy, public service, social welfare. And to celebrate beauty in all its forms, inner and outer beauty. So, it’s a very worthwhile endeavor.” The MIP Team held a screening for Metro Manila-based Ilonggas on December 9 at Relish Café in Quezon City, and on December 14 at the Robinsons Place Iloilo. Aspiring candidates can still apply online until December 30, 2025. Those who can apply must be assigned female at birth and Filipino; 18 years old and above; minimum height of 5’6”; and must have Ilongga roots or at least six months residency in Iloilo. Applicants must accomplish the online form through the QR code found in the Facebook page of the organization. She must upload all supporting documents through the online form. She must prepare her birth certificate, valid government ID and professional half-body and full-body photographs. commercial entities operating with the South American country. The Defense Department, under Trump’s orders, continues its campaign of attacks on smaller vessels in the Caribbean and eastern Pacific Ocean that it alleges are carrying drugs to the United States and beyond. At least 105 people have been killed in 29 known strikes since early September. The strikes have faced scrutiny from US lawmakers and human rights activists, who say the administration has offered scant evidence that its targets are indeed drug smugglers and that the fatal strikes amount to extrajudicial killings. Garcia Cano reported from El Palito, Venezuela, and Burrows reported from London.
Opinion
A14 Wednesday-Friday, December 24-26, 2025 • Editor: Angel R. Calso
BusinessMirror
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editorial
The fragile facade: Why Christmas cheer can’t mask the Pinoy consumers’ despair
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HE festive lights adorning the streets this fourth quarter tell a story of seasonal cheer, but the latest data from the Bangko Sentral ng Pilipinas (BSP) reveals a much darker narrative unfolding behind closed doors. While businesses are currently riding the wave of holiday-driven spending, a profound and troubling disconnect has emerged: Filipino consumers are no longer just “tightening the belt”—they are losing faith in the economic horizon. (Read the BusinessMirror story: Business is confident, public not so—BSP, December 20, 2025).
The BSP’s latest Business and Consumer Expectation Surveys present a jarring paradox. On one hand, business confidence for the current quarter rose to 29.7 percent, buoyed by the traditional Christmas consumption surge. On the other, consumer sentiment has plummeted into a deep chill, crashing from a positive 9.8 percent in the third quarter to a staggering -22.2 percent. When the “economic condition index” hits its lowest level in five years, it is no longer a mere fluctuation; it is a red alert. What is driving this pervasive gloom? While inflation and peso depreciation remain the perennial villains of the country’s economic story, a more insidious factor has taken center stage in the minds of the public: corruption. For the first time in recent survey cycles, “graft and corruption concerns” have been explicitly cited by both businesses and consumers as a primary weight on their outlook. This suggests that the public perceives a leak in the ship of state. When consumers see their household incomes shrinking and prices rising, their tolerance for governance-related scandals evaporates. The survey indicates that the “effective delivery of government services” is being questioned, casting a shadow over public works spending and the overall integrity of the economic environment. The business sector’s outlook for the first quarter of 2026 confirms that the current holiday “boom” is a fragile facade. Business optimism for the coming months didn’t just dip; it halved, falling from 49.5 percent to 23.7 percent. This “post-holiday hangover” is being exacerbated by fears that corruption allegations will deter foreign investment and that a weakening peso will continue to drive up the cost of living. The most heartbreaking statistic, however, lies in the family financial situation. The family income index has retreated into negative territory after nearly a year of growth. This means that for the average Filipino household, the math simply isn’t adding up. No amount of holiday sales or “expansion plans” by major corporations can mask the reality that families feel poorer, more vulnerable to natural calamities, and less certain about their future than they have been in half a decade. The BSP’s surveys contain far more than spreadsheet data. They are “economic surveillance tools” that should serve as a wake-up call for the administration. Economic policy cannot exist in a vacuum of technocratic adjustments to interest rates or inflation targets. It requires the oxygen of public trust. If the government wishes to reverse this tide of pessimism, it must look beyond the temporary stimulus of the Christmas season. It must address the “governance-related concerns” with transparency and vigor. Inflation may be influenced by global markets, but the integrity of public spending and the eradication of graft are entirely within domestic control. As we move toward 2026, the message from the people is clear: a holiday boost is not a substitute for a stable, honest, and inclusive economy. Without addressing the rot of corruption and the pressure on the common worker’s wallet, the nation risks entering the new year not with a bang of growth, but with the whimper of a crisis of confidence.
Edsa repair key to safe travel Mark Villar
THE BUILDER
A
S the Christmas season fills Metro Manila with festive cheer and the spirit of renewal, there is perhaps no better gift for the weary commuters than the promise of a more efficient journey. This December, as we celebrate Christmas and gather with our loved ones, one of the turning points for our infrastructure is finally on the horizon. For decades, Edsa has served as Metro Manila’s main thoroughfare. With about half a million new vehicles joining Philippine roads this year—many of them concentrated in Metro Manila and its surrounding regions—this road has seen massive congestion, especially during the holiday season. This month, the Department of
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OUTSIDE THE BOX
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ITH the New Year on the horizon, it is time to put pen to paper and think about what we really want in 2026. Surveys dress it up as “relationships” and “financial security,” but we all know what that usually means: sex and money.
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Public Works and Highways (DPWH) is preparing to launch the Edsa rehabilitation project. Moving away from the era of “piecemeal” patch jobs, the ambitious initiative employs a technology-driven “surgical” approach. The project will employ advanced materials, such as Stone Mastic Asphalt (SMA), while integrating urban design upgrades for the Edsa Carousel and pedestrian walkways. The DPWH’s P6-billion rehabilitation project is not just another patch job. It marks the first major
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structural overhaul of the highway since the 1980s. Road maintenance is essential for public safety and motorist comfort, which is why I fully support this rehabilitation. Per DPWH Secretary Vince Dizon, the project is set to begin on December 24, with the goal to transform EDSA into a modern, walkable and resilient corridor that is worthy of its status as Metro Manila’s major road. The degradation of the 23.8-kilometer artery impacts public safety, shortens vehicle longevity and cost the national economy in terms of traffic congestion. Per the Japan International Cooperation Agency (JICA), heavy traffic costs the Philippines some P3.5 billion daily. Infrastructure development is often misunderstood as merely building new things. In reality, the modernization of existing facilities is equally critical. Without regular maintenance, a road can become unusable in just a few years. Roads are susceptible to stress, battered by tropical rain, extreme heat and the constant trips of overloaded vehicles.
Sex stays behind closed doors. Wealth does not. It is paraded annually in lists like the “Forbes Philippines’ 50 Richest,” feeding the global obsession with modern billionaires. Yet this fixation distorts perspective. Measured against history, today’s fortunes are impressive, but almost mediocre. As of late 2025, the top three richest people consistently include Elon Musk, Larry Page, and Larry Ellison, often followed closely by Bezos and Zuckerberg. Their net worths in inflation-adjusted dollars make headlines. But dollars alone miss the point. A more revealing measure is “economic power”: peak personal wealth as a share of a nation’s total output at the time. By that standard, history’s true giants were not tech founders or hedge fund managers but rulers and monopolists whose fortunes were inseparable from the economies they commanded. Their dominance makes today’s billionaire class almost poor by comparison. Even
modern government dictators and corrupt leaders sit at the kid’s table in terms of wealth. Take Augustus Caesar, effectively the owner and landlord of the Western world. He erased boundaries between the government treasury and his personal bank account. His decisive takeover of Egypt made the Mediterranean’s grain basket his private estate, with revenues flowing directly to him. Augustus’s economic power likely reached 20 percent of the Roman Empire’s output. A similar concentration existed in Song Dynasty China under Emperor Shenzong. The Song economy was arguably the most advanced of the pre-industrial era. Shenzong’s government imposed monopolies on salt, tea, and wine and operated a nationwide lending system. Profits accrued to the imperial treasury, giving the emperor effective command over a double-digit share of total output. In South Asia, Akbar the Great turned his administration into an
industrial-scale revenue machine. The Mughal Empire collected land taxes from tens of millions through the mansabdari system. Appointed officials delivered revenue to the central treasury, which during Akbar’s reign surpassed the entire treasury of Great Britain 200 years later. This reminds us that Asia’s economic centrality is not new; the current shift toward Asia is less a revolution than a reversion. Not all immense economic power came with personal luxury. Genghis Khan lived austerely, yet he controlled the largest contiguous land empire in history. His true wealth lay in commanding trade. By securing the Silk Road under the “Pax Mongolica,” he collected tariffs on almost all Eurasian commerce. Asia thinks Trump’s tariffs are a big deal. Genghis Khan effectively got a piece of almost all global trade. Then there is Mansa Musa of Mali, whose monopoly over West African gold production made him the apex predator of value in a world where gold was money. His 1324 Hajj to Mecca involved a 60,000-person entourage and 80 camels, each carrying 300 pounds of gold dust. Control over supply, not bank account balances, defined wealth. Modern capitalism produced comparable dominance, but only briefly. John D. Rockefeller controlled about 90 percent of US oil refining in the 1880s; his share of GDP approached 2 percent. Andrew Carnegie’s sale of Carnegie Steel in 1901, with $225 million directly to him, equaled roughly half of the US
Rainwater can wash away the foundational soil and gravel. Once that foundation vanishes, the surface sags, requiring a more expensive rebuild. We should view preventative maintenance as a cost-saving measure. If we wait until a road has “failed,” the cost to reconstruct escalates. Poor maintenance also carries a direct human cost. Large potholes are major catalysts for accidents, while smooth roads provide better “skid resistance.” Driving on degraded roads leads to higher fuel consumption and causes damage to suspension systems and wheel alignments—which are ultimately borne by Filipino motorists. An exciting aspect of the “Edsa Rebuild” is the focus on urban design. This includes the Edsa Carousel Upgrade to reinforce the innermost lanes to handle the weight of heavy buses and the addition of new stations. The project will also help improve drainage systems to prevent the See “Villar,” A15
federal budget at the time. Other historical figures highlight different forms of wealth. Osman Ali Khan, the Nizam of Hyderabad, sat atop gold, diamonds, and land rather than factories or stocks. Jakob Fugger leveraged banking and mining to finance kings, effectively electing Holy Roman Emperor Charles V. For the Philippines, the lesson is that our largest conglomerates are influential, but none command anything close to these historical shares of output. That is not a failure. It is evidence that modern economies, for all their flaws, diffuse power more widely. To match Rockefeller’s 2 percent of US GDP today would require $500 billion to $600 billion. To rival Augustus or a Song emperor would demand tens of trillions, a level of concentration incompatible with modern states. The combined wealth of the 50 richest families in the Philippines usually hovers around $80+ billion. The bottom line is simple. Extreme wealth once meant control over land, trade routes, monopolies, and treasuries. Today’s billionaires are rich because the asset markets allow them to be, not because they own the economy. For a country like the Philippines, that distinction is worth remembering. We should fear not the existence of wealth, but the return of a system where wealth and the state are once again the same thing. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
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Opinion
Consumer expectations and the real economy
Running under the acacia trees during ‘longest night of the year’
BusinessMirror
Dennis Gorecho
Dr. Geoffrey Ducanes
EAGLE WATCH
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AST week, the Bangko Sentral ng Pilipinas (BSP) released the results of its 4th quarter Consumer Expectations Survey (CES) and it was not a good one to close out the current year and augur in the next one. According to the BSP, in response to the question “What do you think of the country’s present economic condition compared to that of 12 months ago (October 2024 to September 2025)?,” there were many more people who expressed the view that the Philippine economy was worse than who thought it was better, resulting in a current quarter outlook score of -22.2. The survey was conducted in October 2025. As the BSP has reported, this is the lowest current quarter economic outlook score since the height of the pandemic in the 4th quarter of 2021, when the score was at -24.0. It should be noted, however, that this is only slightly worse than the current quarter economic outlook score in the 2nd quarter of 2024 (-20.5), and that this indicator has been taking on negative values since the pandemic. The BSP asks two other versions of this question, one on the economic outlook for the country in the next quarter and another for the next year. [“What do you think of the country’s economic condition in the next quarter (January, February, and March 2026)?;” “What do you think of the country’s economic condition in the next 12 months (November 2025 to October 2026)?”] For these other two, the results were not as dire. The next quarter economic outlook score was positive 3.6, which was not historically high but was higher than the next quarter economic outlook score in five of the previous eight quarters. Similarly, the next year economic outlook score was also positive (11.8), relatively low by historical standard but the same as the level in the 2nd quarter of 2025 and higher than the score in the 3rd quarter of 2024. For sure, one thing these results point to is Filipino optimism that things will get better in the future no matter the current circumstances. While the current quarter economic outlook has not achieved a positive value since the 3rd quarter of 2020 for a total of 22 quarters now, the next quarter economic outlook has been negative only four times during the same period, and the next year economic outlook has been positive at any point in the period. What do these economic outlook figures portend for the real economy? For instance, can these figures tell us anything about what will happen to real GDP or real household consumption—which is about 70 percent of GDP—next quarter or next year? In theory, outlook or expectations could have a real economic impact. When people expect better economic prospects and thus higher long-run income, they should be more willing to raise current consumption and investments by borrowing or dissaving, raising GDP in the process. Conversely, negative expectations can have the opposite effect, reducing the drive for consumption and investment and thus reducing current GDP. Theory and practice can diverge, however. The question can be examined empirically by looking at the statistical relationship between historical consumer expectations
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chronic flooding that paralyzes the stretch during the rainy season. Widening sidewalks and improving footbridges will also transform EDSA into a more “walkable” corridor. To reduce disruption, the DPWH
In theory, outlook or expectations could have a real economic impact. When people expect better economic prospects and thus higher long-run income, they should be more willing to raise current consumption and investments by borrowing or dissaving, raising GDP in the process. and historical economic growth. Historical data on an economic variable is called a time series, so this means looking at the link between the time series of consumer expectations and economic growth. One technique that is typically used for analysis of this kind is something called Granger causality analysis, which is a statistical method used for testing whether one time series (say X) is useful for predicting another time series (say Y), after past values of Y are taken into account. X is said to Granger-cause Y if past values of X significantly help forecast future values of Y, after controlling for past values of Y. Now, when this analysis is done to relate current quarter economic outlook with either real consumption or real GDP, the result shows that current quarter economic outlook does not Granger-cause either one. This means that the low current economic outlook score does not really tell us much about what to expect about real consumption growth and real GDP growth next quarter. The same is true when real consumption and real GDP growth are related to next quarter economic outlook and next year economic outlook. Future economic outlook based on the CES do not Grangercause real consumption growth and real GDP growth. In many advanced countries, the empirical link between consumer expectations or confidence and real GDP and real consumption is well-established although modest in magnitude. The finding for the Philippines is a puzzle that defies intuition and calls for more analysis on how Filipino households form expectations and how these expectations feed back into the real economy over time. As we end this economic year and welcome the new one, there are many reasons for concern, primary of which is that unresolved issues about widespread corruption will lead to negative sentiment and uncertainty, dragging down government spending, private investment, and household consumption. Current pessimism is not a death sentence for the economy, as history has shown. But successfully resolving the corruption issues in the country, which would restore confidence in the economy, sure would be great and has the potential to set the country on a higher and steadier growth path.
Kuwentong Peyups
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UNNING under the acacia trees around the academic oval of the University of the Philippines in Diliman last December 21 coincided with the “longest night of the year” and “shortest day of the year” in the Northern Hemisphere.
This astronomical event is popularly known as Winter Solstice, signaling the sun reaching its lowest point and the start of winter, meaning nights are longer than days with less daylight for about 10 hours and 8 minutes. The sun is farthest from the North Pole, resulting in the least amount of daylight and the most darkness. A solstice is the time when the Sun reaches its most northerly or southerly excursion relative to the celestial equator on the celestial sphere. Two solstices occur annually, around June 20-22 (summer) and December 21-22 (winter). In many countries, the seasons of the year are defined by reference to the solstices and the equinoxes. I spent almost 10 winter/summer solstices inside the UP Diliman campus, but it was just in the recent years that I made sure that I run under the acacia trees during my birthday week that coincides with the winter solstice. The acacia trees of the academic oval are silent witnesses to the travails of the denizens of the UP Dili-
man campus. Canopied by over a hundred years old sturdy acacia trees, the Diliman academic oval is a pollution-free haven not just for runners, but also bikers. Most of the trees are as old as the campus itself that offer much needed shade and bring in a relieving breeze even in the scorching heat. A favorite photo backdrop is the scenic view of the way the branches of the trees from the left side of the street meet with those from the right side, forming some kind of archway. They are now part of UP culture and heritage. The way the branches completely extend out from the tree trunks, like arms stretching out from the body, portrays how the students are pushed to their limits, especially academically. Yet despite that, the acacia trees and the students alike, remain standing strong amidst all of that expanding, growing even more used to it as the years go by. The academic oval was my solace as a student at the UP School of Economics from 1987 to 1991 and
Wednesday-Friday, December 24-26, 2025 A15
later at the UP College of Law from 1992 to 1998. The oval is also home to the annual Lantern Parade, which was inspired by the folk practice of carrying lanterns of various shapes and sizes to light the way to the early morning December masses or misa de gallo during the Spanish period. This year’s lantern parade was held on December 17 with the theme “Abé-abé,” which means “togetherness” or “unity” in Kapampangan. The lanterns became platforms for larger messages tackling relevant national and global issues such as attacks on human rights, climate change, environmental degradation and corruption. Several lanterns depicted crocodiles as a symbol of corruption, echoing calls for accountability. The College of Fine Arts (CFA) “Maligno sa Gobyerno” contingent featured colorful glowing huge lanterns of paranormal creatures that are traditionally depicted as evil predators. These creatures are linked with “corruption” that manifests in two ways: the moral corruption of the creatures themselves and as metaphors for real-world political and societal corruption, greed, and systemic abuse of power. A highlight of the lantern parade is the presentation of the podium finishers in the first semester sports of the University Athletic Association of the Philippines (UAAP). They include Men’s Basketball Team (Silver), Men’s Track & Field Team (Bronze), Women’s Badmin-
Lured to Russia for jobs, hundreds of Kenyans wind up fighting in Ukraine By Simon Marks
Hundreds lured to Russia
ton Varsity Team (Bronze), Men’s Badminton Varsity Team (Silver) and Women’s Varsity Swim Team (Gold). UP had been in the UAAP men’s basketball finals during the last five seasons. In 2022, the UPMBT dethroned the Ateneo Blue Eagles in the Finals Game 3 (69-72) of Season 84 on May 13, 2022 at the MOA Arena. Later in 2022, UP’s attempt to regain its championship title for Season 85 ended when it succumbed to Ateneo in the Finals Game 3 (68-75) on December 19, 2022. In 2023, UP again failed to earn the championship title for Season 86 after it lost to DLSU in the Finals Game 3 (69-73) on December 6, 2023. In 2024, UP reclaimed the championship title after they defeated DLSU, 66-62, in Game 3 of the Season 87 Finals on December 15, 2024 at the Araneta Coliseum. In 2025, Game 3 of the Season 88 finals on December 17, 2025 at Araneta was in favor of DLSU (80-72). We cheer “UP Fight” during every game in the same manner the campus molded us to fight for the causes we believe in; trained us for the skills we need to communicate ideas and rally others to effect changes in society. The acacia trees will continue to be witnesses to UP’s existence as an institution with a critical eye on social and historical issues. Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0908-8665786.
helping to secure the release of Kenyans tricked into fighting for Russia. The foreign ministry said that 18 Kenyans, some with injuries and admitted to Russian hospitals, have been successfully repatriated to Kenya by the government. Russia has denied any involvement in recruitment schemes around the world. Russia’s foreign ministry and Nairobi consulate didn’t respond to a request for comment. “It is a travesty that Kenyans from some of the poorest communities are paying for this crime with their lives,” said Marion Njoroge, executive director of Mount Kenya Defenders, a human rights organization. “The authorities need to hold those responsible to account, even if that means rooting out institutional corruption and heads rolling.” On September 25, police raided several houses in Machakos County in southern Kenya, where 22 people being trafficked to Russia were rescued, according to court documents and more than 20 witness statements seen by Bloomberg. They arrested a man, who remains under investigation and “is believed to be working with other suspects who are still at large and are trafficking victims to Moscow,” according to a criminal application filed with the court by Kenya’s Transnational Organized Crimes Investigations Unit. Witnesses told police that they’d been offered upwards of 250,000 shillings per month, but had not understood they would be recruited into the Russian army. “You have an organized crime crisis that is going on,” said Hassan Khannenje, director of the
HORN International Institute for Strategic Studies, a think tank in Nairobi. “That is compounded by unscrupulous individuals sometimes within the government not verifying the authenticity of these organizations.” The foreign ministry said the government had taken measures to strengthen the enforcement of licenses and vetting procedures in order to curb rogue agents. “Over 600 noncompliant agencies have been deregistered,” it said.
Dr. Geoffrey Ducanes is Associate Professor at the Ateneo de Manila University and the Director of the Ateneo Center for Economic Research and Development.
ARTIN MBURU boarded an Air Arabia flight in Nairobi to Moscow on Oct. 21, convinced he was heading to a well-paid job as a driver or security guard. He’d been told by Kenyan and Russian recruiters he’d earn 250,000 shillings (about $2,000) a month. His wife, Grace Gathoni, last spoke to Mburu on November 19. Two days later, she saw a report on Kenyan television that the 38-yearold mini-bus driver had died on the frontlines of Russia’s war in Ukraine’s Donbas region. “It was such a shock,” Gathoni said in an interview from her modest home on the outskirts of the Kenyan capital. “He had no military background and was only given three days of training.” Mburu is one of at least 200 Kenyans who in recent months have been lured to Russia with the promise of finding a job, according to Kenya’s foreign ministry. In some cases, alleged traffickers in Kenya and Russia targeted mini-bus drivers like him, promising them jobs as drivers before fixing their paperwork and facilitating travel to Russia, where they received a few days of basic military training. That was Mburu’s experience. In a voice message sent to his cousin on October 23, he said, “We were at what seemed like a major army barracks.” “We’re now in a bus headed to the camp for training. It is extremely cold here. My tummy’s unwell. And there is a language barrier. We’ll overcome the challenges,” he said. “Please pray for us.”
OFFICIALS in Ukraine said in November that more than 1,400 people from three dozen African countries have wound up fighting alongside Russian forces in Ukraine. That same month, Bloomberg reported that the daughter of former South African President Jacob Zuma was involved in recruiting men from South Africa and Botswana. Kenya’s Directorate of Criminal Investigations is actively probing instances of Kenyans being duped into fighting in the Ukraine conflict under false pretenses, said Kennedy Amwayi, a state prosecutor involved in one of the cases filed by police. They’re looking at an organized, transnational criminal network that involves recruitment agencies and other businesses in Kenya that work with people in Russia, he said. “The ministry is engaging the government of the Russian Federation to facilitate the movement of Kenyan nationals, including those in military camps, to Kenya’s mission in Moscow for onward repatriation,” Kenya’s foreign ministry said in a statement. “The government continues to urge young Kenyans who get job offers abroad to liaise with the Ministries of Foreign and Diaspora Affairs and Labour and Social Protection to verify the authenticity of opportunities.” “This will ensure that no Kenyan is lured by these corrupt and ruthless agents to travel and get trapped in such dangerous situations,” the ministry added. In November, Kenyan President William Ruto thanked Ukrainian President Volodymyr Zelenskyy for
announced that the original twoyear timetable would be cut into just eight months. Works begin at 11 p.m. on December 24, 2025, running 24/7 until 4 a.m. on January 5, 2026. This phase covers the stretch from Roxas Boulevard to Orense. Per the DPWH, from Jan. 5 to May 31, 2026, lane works will shift to a night schedule (10 p.m. to 4 a.m.)
to keep the road open during peak hours. Asphalted portions will reopen by 5 a.m. each morning. The Metropolitan Manila Development Authority (MMDA) has assured the public that traffic enforcers will be deployed to manage the flow. While the “surgical” approach is designed to be less intrusive, the short-term inconvenience
is a necessary price for a long-term solution. With the 2026 Asean Summit on the horizon, the Philippines needs its premier gateway to be in top condition. I share the DPWH’s optimism that by the end of this eight-month rehabilitation period, we will see an “entirely new Edsa” that is safer,
smoother and finally worthy of being called a modern infrastructure. The rehabilitation of Edsa represents more than just a logistical upgrade—it is a long-overdue investment. While the reconstruction period will test the patience of the commuting public, the transition to a smoother, safer and more walkable corridor is necessary to have a revi-
talized Edsa. As we look forward to this vital project, let us welcome the improvements that it promises to bring as a gift of better mobility for all. MERRY CHRISTMAS!
M
‘Cannon fodder’
RELATIVES in Kenya suspect their loved ones are being used as “frontline cannon fodder,” said Wainaina Ngugi, a lawyer representing members of five families from the town of Ruaka who he said have been trafficked to Russia. Families have been unable to retrieve the bodies of their dead relatives, while others have gone months without contact with those still living, he said. Mburu kept up regular correspondence with his family until he died—and also wrote to the Kenyan government about his plight. “According to the contract I was offered before my departure, the type of work I was to perform was in security services, cooking, or driving,” Mburu wrote in a letter to Kenya’s ambassador to Russia in November. “However, upon arrival, I discovered that the actual assignment involved being issued a firearm and deployed toward the warfront in Ukraine, which was not stated in my contract and not the kind of work I agreed to undertake.” Bloomberg
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A16 Wednesday-Friday, December 24-26, 2025
OMBUDSMAN SETS FORENSIC TESTS ON USEC CABRAL FILES
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HE Office of the Ombudsman on Tuesday said the personal computer surrendered by the Department of Public Works and Highways (DPWH) originally issued to former Undersecretary Maria Catalina Cabral will remain sealed until digital forensic examinations are conducted. “The CPU [central processing unit] and fi les of Usec. Cabral have been sealed and delivered to the custody of the Office of the Ombudsman. It will remain sealed until we are able to do a digital forensic test,” Assistant Ombudsman Mico Clavano said in an interview with reporters. Meanwhile, Clavano said obtaining and processing Cabral’s office-issued cellular telephone will be up to the Philippine National Police. “That’s a PNP matter. But we have expressed our utmost interest in the cellphone,” he said. Authorities are investigating Cabral’s death. She was found unconscious in a ravine along Kennon Road in Tuba, Benguet shortly after midnight on Friday. She was pronounced dead shortly after authorities retrieved her body. Prior to her demise she had been eyed as a key figure with knowledge in the processes involving anomalous flood control projects. Meanwhile the Department of Justice said contractor Sally Santos has already surrendered P19 mil-
lion in “ill-gotten wealth” obtained by lending her contractor license for use in projects in exchange for a 3-percent “royalty” fee. Santos surrendered P15 million to the DOJ on Monday, in addition to P4 million she surrendered earlier this month. “The final amount to be surrendered will be equivalent to the royalty fees Sally Santos received from the Hiram Lisensya scheme,” DOJ spokesperson Polo Martinez told reporters. Earlier on Tuesday, the DPWH formally turned over the computer and fi les from the office of Cabral accumulated during the past 10 years. In a statement, the DPWH said the turnover was in compliance with the subpoena duces tecum of the Office of the Ombudsman issued on Monday. DPWH Undersecretaries Nicasio Conti, Arthur Bisnar, Ricardo Bernabe III and Charles Calima Jr. led the turnover to the Ombudsman, which investigating government officials and private individuals tagged in the flood control project anomalies. Included in the turnover were documents and other requests for consideration in the programming of the National Expenditures Program (NEP) in the last 10 years, among others. The agency also assured that it will cooperate with the authorities and relevant agencies handling the investigation. PNA
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IMF: Data-backed monetary policy vital amid climate risks B R J S. A
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@reine_alberto
ITH climate change becoming a macro-critical risk for the Philippines, a balanced and data-dependent monetary policy response, as well as creating fiscal space to finance climate-resilient infrastructure are needed to cushion the economy from severe weather events, according to the International Monetary Fund (IMF). In its latest country report for the Philippines, the IMF said the growing frequency and intensity of climate-related disruptions suggest that these events will increasingly challenge monetary policy in the years ahead. “Severe climate events can be macro-critical in the Philippines, and the [Bangko Sentral ng Pilipinas] BSP should weigh tradeoffs between anchoring inflation expectations and supporting economic recovery,” IMF said. Although a single typhoon is unlikely to impact the macroeconomy in the Philippines, IMF said
a year with multiple, consecutive and strong typhoons can become macro-critical by lowering GDP and raising prices. “On balance, we find that a monetary policy reaction function that supports rebuilding while maintaining credibility to keep expectations anchored is the most appropriate,” IMF said. The IMF used its Global Dynamic Network (GDN) model to simulate the economic impact of typhoons on the Philippine economy. The results showed that strict inflation targeting stabilizes prices but deepens output losses and is
accompanied by a large decline in real gross domestic product. Meanwhile, a more accommodative approach or a “dovish” policy supports activity and rebuilding because real interest rates fall on impact. “Pol ic y ma kers therefore need to carefully balance inflation and output tradeoffs, recognizing that excessive tolerance for inflation would risk eroding credibility and deanchoring of inflation expectations,” IMF said. Moreover, Filipino households place disproportionate weight on food prices when forming expectations about future inflation. IMF said this behavior amplifies the macroeconomic impact of typhoon shocks and turns temporary food price shocks into more persistent inflationary pressures. “From a monetary policy perspective, this suggests the importance of anchoring expectations through clear communication and credible policy actions that reduce the salience bias,” IMF said, adding that BSP can enhance policy effectiveness by fostering more rational
and broad-based expectation formation. On the fiscal policy side, IMF said relying solely on borrowings to finance climate resilience could lead to increased public debt and complicate fiscal consolidation. Instead, revenue mobilization, expenditure rationalization and/ or private sector participation may be pursued if the government chooses to invest in resilient infrastructure without incurring additional debt, IMF added. The Philippines is vulnerable to natural disasters, such as stronger typhoons, heavier rainfall, higher temperatures and rising sea levels, which are worsened by climate change. The country suffers from the most powerful Category-5 typhoons twice a year, while lowerintensity typhoons occur more frequently. World Bank estimated that the cumulative economic costs of climate change could reach 7.6 percent of GDP by 2030 and 13.6 percent by 2040.
PHL envoy hails US aid, expert flags risks B M T-B
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@maloutalosig
HILIPPINE officials and defense experts welcomed the US$3.5 billion (P205.5 billion) defense package for the Philippines under the US National Defense Authorization Act (NDAA) 2026, signed into law by US President Donald Trump on December 18, 2025. The Philippine envoy in Washington described the measure as proof of US commitment to the alliance, while a retired Vice Commander of the Philippine Navy stressed that the aid, though vital in addressing capability gaps, must be managed carefully to avoid over-reliance on American support in regional security Philippine Ambassador to Washington D.C. Jose Manuel Romualdez said in a text message that the NDAA 2026 “confirms US commitment to our defense alliance.” He highlighted the bipartisan support from the US Congress.
The envoy noted that the package was agreed upon by the Philippine Department of National Defense and US counterparts as part of ongoing interoperability and modernization programs. He framed the measure as a continuation of alliance strengthening, aligned with commitments made during the 2+2 Ministerial Dialogue in July 2024. (See
related story: www.businessmirror. com.ph/2024/07/31/us-announces-p29-3-billion-military-fundingto-phl/)
Security Expert: ‘No Free Lunch’
RETIRED Rear Admiral Rommel Jude Ong, Professor of Praxis at the Ateneo School of Government, welcomed the funding but issued a warning: The NDAA 2026 will help fill capability gaps of the AFP, which he said local Congress has failed to support through the General Appropriations Act (GAA). Ong stressed that
the budget is “just enough to support some of the requirements for territorial defense.” He cautioned: “There is no such thing as a free lunch. Relying too much on US support impacts our agency on matters involving regional security, particularly on China.” Ong underscored that Chinese coercive behavior in the West Philippine Sea is an existential concern, and that the Philippines’ lack of strategy, capabilities, and political will is creating a “perfect storm” that could lead to losing control of the WPS. He added: “The challenge is transitioning the support from NDAA to actual, operational capabilities as fast as we can. Even with the best intentions, that will still take years to implement. And time is not our friend.”
Strategic context
THE NDAA FY2026 provides: ■ US$500 million annually in grants S “PHL,” A
WITH NGCP, OUTAGES ON AKELCO LINE END
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OWER transmission system provider NGCP has formally assumed ownership, operation, and maintenance of the Caticlan-Unidos 69kV Line—an asset long beset by operational issues—following a directive from the Energy Regulatory Commission (ERC). The transition allows NGCP to immediately implement corrective measures to improve the condition of the line and enhance power reliability in the province. NGCP is currently addressing the recurring outages on the overhead bypass line built as a temporary fix to the damaged 69kV line formerly managed by the Aklan Electric Cooperative (AKELCO) near the Caticlan Airport. Investigation showed water wave splash and salt spray corrosion as the primary causes of recent failures To avoid such water wave splash and salt spray, NGCP constructed an adjusted bypass line away from the seashore which will be energized this December. “We fully recognize the challenges associated with the condition of the inherited asset, underscored by the brownouts experienced earlier this month,” NGCP said. “With the line now under NGCP, we are mobilizing our full technical and financial resources to implement immediate, medium-term, and long-term solutions. Our teams are working around the clock to ensure reliable power for the province.” A full reconductoring of the affected transmission line will also be undertaken. Due to the absence of available spare materi-
als from AKELCO, NGCP already procured the required materials and targets the completion of the activity by March 2026. The transition in the line’s ownership stems from an ERC decision issued in November 2024 which reclassified the CaticlanUnidos 69kV line from a sub-transmission asset to a transmission facility. This means, upon the completion of the Nabas-CaticlanBoracay 138kV Line, the existing 69kV line will also have a transmission function and will be transferred to NGCP. Urgency escalated in September after the 69kV cable was damaged. During the meeting called by the DOE attended by AKELCO, NGCP, and ERC, AKELCO, which uses and maintains the line, subsequently acknowledged its inability to finance the required repairs. In response, the ERC issued an order in October directing NGCP to immediately take over the asset to safeguard reliable electricity
delivery in the province. Even prior to a formal turnover, NGCP already flagged potential risks. As early as January 2025, NGCP detected corrosion on the NGCP-maintained Nabas-Caticlan portion of the transmission facility, and informed AKELCO of the matter. Remedial works were immediately undertaken on NGCP’s assets. Following a Joint Due Diligence Inspection conducted by TransCo, NGCP, and AKELCO in October 2025, a Certificate of Turnover was signed on November 21, 2025. NGCP has yet to issue a Certificate of Acceptance due to reservations, citing lines and poles for replacement, and lack of ROW documents. The vulnerability of the infrastructure became evident shortly after turnover, leading to the power interruptions recorded early this December. S “NGCP,” A
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Editor: Jennifer A. Ng
Wednesday-Friday, December 24-26, 2025
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‘Beneficial ownership rules will address discrepancies’ I
Busiest port in PHL hits volume milestone
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By VG Cabuag
@villygc
HE Securities and Exchange Commission (SEC) has issued a revised regulatory framework aimed at improving the accuracy and timeliness of corporate beneficial ownership disclosures, in support of ongoing efforts to prevent the misuse of corporate entities for illicit activities. The SEC on Monday issued SEC Memorandum Circular No. 15, Series of 2025, which sets out the beneficial ownership and consolidates existing SEC regulations governing the submission of beneficial ownership information. The circular takes effect on January 1, 2026. “Strengthening transparency in beneficial ownership is a key regulatory reform to reduce the risk of
corporate entities being misused for illicit activities,” SEC Chairman Francis E. Lim said. “The 2026 rules streamline existing disclosure processes and allow the Commission to make better use of structured, high-quality data, ensuring that authorized authorities can access reliable and timely information for lawful purposes.” Among others, the 2026 rules
provide verification mechanisms to validate beneficial ownership information and address discrepancies; controlled access by authorized parties, subject to applicable laws and safeguards; and a 20-percent reporting threshold, in accordance with rules issued by the Anti-Money Laundering Council. The new rules also strengthen disclosure requirements, mandate nominee reporting and impose timely change notifications. They further lay the foundation for an online registry to facilitate the submission of beneficial ownership data. The rules apply to domestic and foreign corporations, partnerships and one-person corporations under the jurisdiction of the SEC, including relevant officers, shareholders and other covered persons. The 2026 rules classify beneficial owners into Categories A to I, based on ownership interests and various forms of control or influence over a corporation. Category A covers natural persons who own, directly or
indirectly through a chain of ownership, at least 20 percent of the voting rights, voting shares or capital of the reporting corporation. The other categories classify beneficial owners based on their exercise of control over the reporting entity, the ability to elect a majority of the board of directors/trustees, and if they exert dominant influence in conducting the affairs of the corporation, among others. Beneficial owners identifying and contact information necessary to establish beneficial ownership, as prescribed under the rules and the date the individual became a beneficial owner, among others, should be disclosed. The SEC may also require companies to submit additional documents related to the beneficial owners declaration. The 2026 rules lay the groundwork for the establishment of a beneficial ownership registry, an online platform dedicated to the submission of beneficial ownership data.
Monde Nissin pushes clear food rules L ISTED Monde Nissin Corp. said it is committed to food safety, regulatory transparency, and industry collaboration as it participated in a high-level dialogue with the Food and Drug Administration (FDA). Held dur ing the Canadian Chamber of Commerce of the Philippines Business Forum, it brought together leaders from government and industry to discuss the FDA’s modernization agenda, regulatory reforms and opportunities to strengthen public trust in product safety through closer private sector engagement. FDA Director general Paolo Teston emphasized the impor-
tance of partnership between regulators and industry, noting that regulation works best when all stakeholders move in the same direction. “We are not adversaries; we are partners working towards a shared goal—a safe marketplace that promotes growth for consumers.” He said FDA has renewed its focus on access, science-based regulation, transparency, and collaboration, stressing that “what we truly safeguard is trust.” “From an industry lens, a renewed FDA means predictable regulatory pathways. Food companies plan investments years ahead, and continuity—alongside science-
based and risk-based regulation— is just as important as speed. Clear rules, defined transition periods, and consistent implementation help ensure that compliance efforts translate into real improvements in food safety and market access,” Philippine Chamber of Food Manufacturers Inc. Chairman Marites Directo said. Ria Badiola, regulatory affairs manager of Monde Nissin, said the industry supports FDA’s modernization initiatives from the standpoint of regulatory practitioners working closely with the agency. She welcomed the focus on riskbased frameworks, adding that “clear, science-based frameworks
and predictable regulatory processes support effective compliance and allow companies to focus resources on areas that matter most for consumer safety.” Directo and Badiola both underscored the value of digital transformation, post-market surveillance, standard harmonization, and broader engagement with small and medium-sized enterprises as critical to strengthening regulatory effectiveness and public confidence. They also highlighted the importance of continued dialogue and collaboration to ensure that reforms are practical, inclusive, and aligned with real-world implementation. VG Cabuag
Davao Light opens applications in new franchise areas
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AVAO City—Davao Light and Power Co. has announced that it is accepting new line applications from Davao del Norte areas nearest to its existing lines as it is still reaching out to the previous franchise holder to sell the existing lines and facilities to the company. Davao Light had specifically asked residents and businesses in Kapalong town, the nearest town covered by the company’s newlybuilt distribution line. It said it has placed a distribution line extension 12 kilometers long from Barangay Pag-asa to the Municipal Hall, in the municipality of Kapalong. This was part of Davao Light’s construction efforts to bring reliable and accessible electricity service to more households and businesses in the community in its expanded franchise areas. “We have been building our distribution line because local government unit leaders and customers are demanding that we do. This is to serve the customers’ interest, and we hope not to delay any further, but we have no choice at the moment,” Davao Light President and Chief Operating Officer Enriczar Tia said. “But we are still hopeful that the management and board of the Northern Davao Electric Coopera-
tive, Inc. (Nordeco) will sit down with us and enter into negotiations for their assets, so we can smoothly transition and connect as many customers as we can.” Davao Light said it intended to build more lines in the coming months, but is also realistic about the public’s expectations. “We can build our own lines, but it will take years before we can cover our expansion area. We are hoping for Nordeco’s cooperation to make things faster,” Tia said. To make the process easier and more convenient for residents, online pre-registration is available, allowing applicants to start their applications in advance and minimize the need for repeated visits, he said. He said the company will not require connection fee and customers will not be charged for the meter base, current transformer box, and service wires, reinforcing its commitment to a transparent and customerfriendly service. He said that while Davao Light wanted to serve the whole of Davao del Norte and Davao de Oro, it can only do so much, “given Nordeco’s resistance
to the negotiation of its assets.” He said Davao Light cannot immediately respond to the clamor of the public for cheaper and more reliable power, “as it takes time to put up new structures and connect everyone to the company’s line.” He said the company has appealed to the board of directors of the Nordeco “to accept our request for a Joint Transition Committee and to work closely with all stakeholders during this transition.” “This cooperation will help ensure a smooth and orderly process of the transition, which is expected to benefit the entire community, especially customers.” Tia said Davao Light cannot yet take over the entire area covered by Republic Act 12144, the law that granted Davao Light the extended franchise to what Nordeco used to cover, over Norderco’s continued refusal to negotiate. For now, he said, the company “has only been able to string a connection in the Municipality of Kapalong due to its proximity to the original areas of Davao Light.” Meanwhile, Davao Light cautioned customers to avoid wasteful use of electricity during the holidays. The company said its customers “are in for a treat this holiday season with a lower overall residential electricity rate of P9.7135
per kilowatt-hour (kWh) applicable to bills received during the December 11 to January 10 billing period.” “This is mainly due to a decrease in power supply prices from the W holesa le Electr icity Spot Market (WESM), one of the distribution utility’s power supply sources.” The new rate is P0.3477/kWh lower than last month’s P10.0612/kWh. “This results in a decrease of approximately P69.54 in the electric bill for typical households consuming 200 kWh and using essential appliances such as light bulbs, electric fans, an iron, a television, a rice cooker, a washing machine, and a refrigerator.” “With this, Davao Light customers can further maximize their savings by continuing to mindfully use electricity throughout the holiday season. Here are some practical energy conservation and electrical safety tips for households: turn off and unplug Christmas lights earlier than usual to reduce electricity use, prevent overheating and fire incidents; use LED lights in decorations because LED lights are the most energy-efficient lighting option currently available as they use less energy, last longer, and run much cooler than standard incandescent lights.” Manuel T. Cayon
NTERNATIONAL Container Terminal Services Inc.’s (ICTSI) Manila International Container Terminal (MICT) reached a milestone 3 million twenty-foot equivalent units (TEUs) in 2025, the first time the country’s busiest port facility has handled that volume in a single year. MICT recorded the milestone container on December 22 while servicing Evergreen Marine Corp.’s vessel Ever Bliss, which carried cargo for Universal Robina Corp. Christian Lozano, MICT chief executive, attributed the record to operational improvements and capacity expansion that allowed the terminal to manage higher volumes during peak season. “Handling three million TEUs shows how the MICT has kept pace with rising demand through continued operational improvements and capacity expansion,” he said. The terminal deployed hybrid rubber-tired gantry cranes and additional terminal tractors during the year to support the increased throughput. MICT has also begun
evaluating electric terminal tractors as part of its modernization program. Construction continues on the terminal’s eighth berth, which includes a 300-meter quay and 12 hectares of combined quay and yard development. The facility has already placed 6.5 hectares into operation. The new berth, designed with a 15-meter depth, will accommodate container vessels with capacities up to 18,000 TEUs. MICT expects delivery of three quay cranes for the expansion in 2027. Once completed, the berth expansion will raise MICT’s annual handling capacity to 3.5 million TEUs. MICT accounts for approximately 70 percent of Manila port volumes and serves as the Philippines’s primary gateway for international cargo. The terminal is ICTSI’s flagship facility. Last month, ICTSI reported that its net income attributable to equity holders reached $751.56 million for the nine-month period ending September 30, up 19 percent from $632.58 million recorded in the same period last year. Lorenz S. Marasigan
Pag-IBIG Fund extends Acquired Assets Super Sale, enhances rules for buyers to make homeownership more accessible
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AG-IBIG Fund has extended its Acquired Assets Super Sale until Dec. 31, giving homebuyers more time to purchase foreclosed properties at discounted prices, while adopting new rules to lower upfront costs and make it easier for more buyers to participate. Pag-IBIG Fund said interest in acquired assets has remained strong since the Super Sale began on Aug. 25, with 44,861 bids received and 18,434 winning bids recorded. The agency said that 5,074 properties will be published for auction until the remainder of the year. Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon P. Aliling, who chairs the Pag-IBIG Fund Board of Trustees, said the extension and updated rules respond to sustained demand from homebuyers, and support President Ferdinand R. Marcos Jr.’s directive to expand access to affordable, ready-for-occupancy homes. “The demand for our Acquired Assets Super Sale has been overwhelming and very encouraging, showing how dependable Pag-IBIG Fund has become in helping Filipino workers secure affordable homes,” Aliling said. “With the enhancements to our Super Sale, we are making participation easier and more affordable for more buyers, consistent with President Marcos’ directive to provide Filipinos with accessible and practical opportunities for homeownership.” He added that the strengthened Super Sale also supports the administration’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program by offering families a faster and more affordable pathway to secure decent, ready-for-occupancy homes. Under the updated rules, PagIBIG Fund reduced the required
down payment for cash and shortterm installment purchases to 3% of the net selling price, from 5% previously. The agency also updated its auction guidelines to allow bidders to submit offers for up to three properties per batch of published listings. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the improvements strengthen the agency’s push to make homeownership more attainable, including for long-time occupants of foreclosed properties who want to legally secure the homes they already live in. “By offering larger discounts and lowering upfront costs through the Super Sale, we are giving more Filipino workers the opportunity to finally own a home,” Acosta said. “For current occupants, this is also the best time to settle with Pag-IBIG Fund and become legitimate homeowners. We want families to gain the peace of mind that comes with knowing the home they live in is truly their own.” Acosta added that those not yet ready to purchase may opt for a lease arrangement of up to three years. To reduce the initial cost, the agency also lowered the lease requirement to a one-month advance rent, from two months previously. She encouraged homebuyers to use the agency’s fully digital public auction system, which allows buyers to view listings, submit bids and complete transactions online using a mobile phone or computer. “By streamlining the process and making it fully online, we are ensuring that more Filipinos can participate conveniently,” Acosta said. “With the Super Sale extended until Dec. 31, we encourage interested buyers to take this opportunity to secure a home.” Interested buyers may view listings, eligibility requirements and auction mechanics at www.pagibigfundservices.com/OnlinePublicAuction.
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Wednesday-Friday, December 24-26, 2025
Companies BusinessMirror
LFM Properties purchases Makati property for ₧1.1B
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By VG Cabuag
@villygc
FM Properties Corp. on Tuesday said it acquired a 918-square meter parcel of land located along Valero and San Agustin Streets in Salcedo Village in Makati. The company said it bought the property from Parity Values Inc. for P1.1 billion, excluding value added tax. The LFM board approved the acquisition on Tuesday. T he pr ice was deter mined
based on a valuation report prepared by a third-party adviser jointly selected by the company and the seller, which placed the fair value of the property at P1.1016 billion, the company said in its disclosure.
The purchase price is payable under a one-year payment term. There are no conditions precedent to the transaction. The acquisition is expected to add to the company’s property portfolio. The company said it plans to pay the property using internally generated funds and bank borrowings. “The property is land with no improvements,” it said. For the nine months of the year, LFM income fell to P13.85 million, down by 67 percent from the previous P42.56 million. Total gross revenues reached P168.43 million, 14 percent lower than last year’s P196.7 million.
The decline is primarily due to the vacant units in Liberty Plaza Building which is almost fully occupied as of the report date. Cost of rental services amounted to P74.5 million same as last year. General and administrative expenses amounted to P34.7 million, an increase of 70 percent versus last year’s of P20.4 million. The company said the increase was mainly due to the P13.6 million rise in tax licenses particularly to transfer taxes paid for the Liberty building acquired from the parent company and documentary stamp taxes paid for the availment and renewal of loans.
Vitro taps power solutions from ABB Group
T
HE local unit of Swiss electrification company ABB Group has supplied the complete power infrastructure for Vitro Santa Rosa, positioning the 50-megawatt facility as the country’s largest and most technologically advanced data center. ABB Philippines delivered medium- and low-voltage electrifica-
tion solutions through local partner Distribution & Control Products, Inc. (DCPI), including ZX2 and SafePlus gas-insulated switchgear, Tmax XT and Emax 2 circuit breakers, protection devices and M4M analyzers designed to ensure continuous uptime and energy efficiency. “Delivering the world’s most advanced data centers takes global expertise and strong local partnerships,” ABB Philippines Marketing and Sales Director Christine Penequito said. “High performance starts with reliability-smart solutions that ensure critical power is always available. Partnering with DCPI to support the Philippines’s first AI-ready hyperscale data center, we are powering the future of
digital infrastructure.” Vitro Sta. Rosa was designed to meet Telecommunications Industry Association Rated-3 Certification standards with Rated-4 readiness, ensuring high availability for mission-critical workloads. The data center integrates at least three independent fiber routes
MUTUAL FUNDS
for network diversity and resilience while targeting Leadership in Energy and Environmental Design certification standards. Vincent Tiamsic, president of DCPI, said the company worked closely with ABB during the planning stage to tailor the solution to Vitro’s specifications. Lorenz S. Marasigan
December 23, 2025
NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A213.7 -0.78% 0.77% -1.39% -1.43% -2.58% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.1165 18.1% 16.88% 9.94% 6.31% 16.61% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8506 -3.08% -0.75% -2.08% -2.46%-4.46% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.753 3.18% 3.14% -1.46% N.A5.54% FIRST METRO CONSUMER FUND, INC. -A 0.5529 -11.61% -5.18% -5.9% N.A -13.28% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.3708 -4.44% -2.02% -2.6% -1.84% -5.87% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6411 -5.69% -3.02% -3.55% N.A-7.56% MBG EQUITY INVESTMENT FUND, INC. -A 87.83 24.32% 5.48% -2.84% N.A 23.5% PAMI EQUITY INDEX FUND, INC. -A 41.2942 -3.77% -1.55% -2.67% -1.23% -5.55% PHILAM STRATEGIC GROWTH FUND, INC. -A 448.74 -1.13% 0.25% -1.87% -1.18% -2.92% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.5501 14.02% 10.46% 5.7% 2.82% 11.17% PHILEQUITY FUND, INC. -A34.4237 -0.26% 1.12% -0.31% 0.17% -1.76% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.891 1.92% 1.63% -0.65% N.A 0.54% PHILEQUITY PSE INDEX FUND, INC. -A 4.4602 -1.91% -0.32% -1.6% -0.35% -3.74% PHILIPPINE STOCK INDEX FUND CORP. -A 733.73 -2.9% -0.74% -1.93% -0.57% -4.72% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7001 -0.44% 1.33% -0.76% -1.99% -1.77% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2083 -6.64% -1.67% -2.61% -1.77%-8.2% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8227 -3.88% -1.22% -2.34% -0.83%-5.68% UNITED FUND, INC. -A3.22544.58% 1.38% -0.74% 0.24% 1.97% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0312 -2.99% -0.85% N.A N.A -4.69% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0371 -0.5% N.A N.A N.A -1.7% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9361 -7.52% -3.36% -2.95% N.A -9.72% PHILIPPINE STOCK INDEX FUND CORP. -A 885.02 -3.6% -0.97% N.A N.A -5.4% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 99.8295 -3.33% -0.49% -1.65% -0.06%-5.15% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.005 20.1% 5.46% -3.23% 1.3% 21.04% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.1939 13.95% 15.35% 5.75% N.A 13.93% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1383 0.8% -1.4% 0.69% 0.04% 0.3% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.6305 4.01% 3.64% -0.47% -0.64%4.51% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.46 -1.52% -0.61% -1.41% -0.87%-2.21% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2307 7.7% 6.5% 2.94% N.A6.31% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.0009 1.56% 0.88% 0.29% 1.12% -0.55% PAMI HORIZON FUND, INC. -A3.786 3.43% 3.1% -0.11% 0.64% 2.6% PHILAM FUND, INC. -A15.99380% 1.63% -1.23% 0.02% -0.91% SOLIDARITAS FUND, INC. -A2.103 0.71% 1.85% -0.02% 0.49% 0% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4442 -0.65% 1.07% -0.85% -0.4%-1.42% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9131 -0.78% 1.25% 0.39% -0.16% -1.52% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9779 1.93% 2.22% -0.95% N.A 1.49% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8418 -0.92% 0.21% -2.53% N.A -2.2% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8088 -2.54% -0.57% -2.98% N.A -3.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03415 5.99% 1.72% -2.71% -0.35% 6.39% PAMI ASIA BALANCED FUND, INC. -B $1.1918 10.05% 0.83% 3.08% 22.97% 22.87% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.2794 11.3% 10.91% 3.34% 5.54%11.36% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1741 8.02% 6.23% 0.23% N.A8.11% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A419.61 4.12% 3.59% 2.49% 2.66% 4.1% ATRAM CORPORATE BOND FUND, INC. -A 1.9574 2.76% 1.45% 0.6% 0.32% 2.68% COCOLIFE FIXED INCOME FUND, INC. -A 3.5815 3.44% 3.55% 2.2% 3.5% 3.28% EKKLESIA MUTUAL FUND, INC. -A 2.4564 3.74% 4.09% 1.35% 1.9% 4.03% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5725 3.03% 2.4% 0.97% 1.56%3.26% PHILAM BOND FUND, INC. -A4.6149 3.52% 3.34% -0.07% 1.53% 3.94% PHILAM MANAGED INCOME FUND, INC. -A 1.5216 4.92% 4.79% 2.89% 2.76% 4.94% PHILEQUITY PESO BOND FUND, INC. -A 4.3183 3.63% 3.67% 1.62% 2.35% 3.83% SOLDIVO BOND FUND, INC. -A1.1223 4.15% 3.34% 1.55% 2.04% 4.23% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.5588 3.79% 4.08% 2.16% 2.93% 4.06% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8896 3.7% 3.63% 1.55% 2.37% 3.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) $528.55 ALFM DOLLAR BOND FUND, INC. -A 3.64% 3.26% 1.79% 2.37% 3.54% ALFM EURO BOND FUND, INC. -AЄ223.47 2.03% 2.12% 0.39% 0.81% 2.03% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.075 3.55% 2% -3.42% -0.17% 3.6% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0264 5.6% 3.52% -0.15% 0.83%5.6% PAMI GLOBAL BOND FUND, INC. -B $1.0594 22.69% 6.89% -0.62% 0.04% 23.19% PHILAM DOLLAR BOND FUND, INC. -A $2.478 6.63% 4.34% -0.45% 1.61% 6.81% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0644086 3.5% 2.4% 0.64% 1.51% 3.52% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9238 6.42% 2.1% -1.94% 0.31%6.4% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1656 3.11% N.A N.A N.A 3.02% ALFM MONEY MARKET FUND, INC. -A 148.54 4.41% 3.72% 2.74% 2.65% 4.25% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.1968 3.93% 3.71% 2.7% N.A 3.69% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.4801 3.92% 3.43% 2.69% 2.65% 3.81% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 113.83 4.37% 4.28% N.A N.A 4.23% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1757 3.1% 3.21% 2.24% N.A 3% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 46.0323 2.05% 2.6% N.A N.A 3.66% SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.1416 19.42% 20.32% 14.1% N.A21.66% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1048 2.99% N.A N.A N.A 5.12% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS)
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PSE STOCK QUOTATIONS
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS
ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FERRONOUX HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE
39 133 9.01 118 57.1 11.36 67.4 7.7 51.8 55 87 25.3 64.15 26.9 0.6 1.36 1.36 4.55 1,995 0.73 206 3,360 0.92
39.05 133.1 9.15 119.8 57.55 11.48 67.9 7.83 51.95 55.75 99.95 25.7 64.2 27 0.65 1.42 1.39 4.69 2,000 0.75 208 3,380 0.95
39 134.2 9.2 119.3 56.25 11.42 67.5 7.86 52 55.9 97 25.3 66 26.9 0.62 1.36 1.46 4.9 1,990 0.74 207.8 3,360 0.93
39.1 134.3 9.28 120 58.3 11.46 67.9 7.9 52.5 55.9 97 25.3 66.5 27 0.65 1.42 1.46 4.9 2,000 0.76 208 3,360 0.96
38.85 130.1 9.19 117.7 56.25 11.4 67 7.83 51.95 55.75 85.95 25.3 64.2 26.75 0.61 1.36 1.36 4.49 1,980 0.74 205 3,360 0.92
39.05 133 9.19 119.8 57.1 11.46 67.9 7.83 51.95 55.75 85.95 25.3 64.2 27 0.65 1.42 1.36 4.55 2,000 0.76 206 3,360 0.96
33,400 3,720,030 4,700 1,831,960 266,510 1,250,300 817,420 4,300 185,580 1,460 160 3,500 507,350 47,300 38,000 3,000 79,000 203,000 780 1,483,000 10,230 50 81,000
1,303,845 493,299,182 43,249 218,386,920 15,268,973.50 14,326,896 55,146,763.50 33,879 9,656,988.50 81,471.50 14,124.50 88,550 32,699,192.50 1,275,835 23,520 4,200 109,050 925,020 1,557,425 1,111,900 2,111,566 168,000 74,720
46,710 90,848,712 -2,757 90,961,684 -3,080,557 -11,454,948 -587,662 -15,800,999.50 281,545 -300 -9,900 -1,866 168,000 46,000
INDUSTRIAL ACEN CORP 2.73 2.74 2.7 2.77 2.7 2.74 5,967,000 16,314,320 2,034,550 ALSONS CONS 0.46 0.465 0.46 0.46 0.46 0.46 250,000 115,000 ALTERNERGY HLDG 0.81 0.83 0.85 0.85 0.81 0.83 134,000 111,090 -5,670 43.1 43.4 42.9 43.5 42.75 43.4 428,600 18,548,160 453,635 ABOITIZ POWER 0.79 0.83 0.84 0.84 0.84 2,000 1,680 RASLAG 0.84 BASIC ENERGY 0.114 0.115 0.114 0.117 0.114 0.116 910,000 104,670 -80,500 CITICORE RE 4.27 4.27 4.13 4.27 4.27 4.27 6,000 25,620 17.3 17.34 17.4 17.4 17.26 17.34 118,200 2,051,304 -107,446.00 FIRST GEN 72.5 73 73 73.5 73 73 15,010 1,095,735 FIRST PHIL HLDG MERALCO 582.5 580 589 589 572 580 135,480 78,150,670 -44,091,790 MANILA WATER 39.35 39.8 40.25 40.3 38.95 39.8 1,352,600 53,466,480 13,484,200 16.4 16.4 16.6 16.38 16.4 1,991,600 32,801,362 14,188,064 MAYNILAD 16.48 2.46 2.5 2.5 2.46 2.5 1,474,000 3,684,200 -90,000 PETRON 2.51 REPOWER ENERGY 6.32 6.35 6.35 6.36 6.32 6.35 7,300 46,326 5,724 SEMIRARA MINING 28 28.05 28.2 28.2 27.85 28.05 650,600 18,242,170 -3,222,645 16.86 16.88 16.98 17 16.8 16.86 592,400 9,990,002 -4,698,946.00 SYNERGY GRID 6.11 6.23 6.06 6.36 5.94 6.11 1,106,600 6,744,365 -1,925,406 SHELL PILIPINAS SPC POWER 9.43 9.44 10.92 10.92 9.42 9.44 835,600 7,977,113 -393,632 SP NEW ENERGY 1.11 1.12 1.13 1.13 1.11 1.11 2,381,000 2,653,070 95,460 1.53 1.54 1.57 1.6 1.54 1.54 1,323,000 2,077,040 -26,860 TOP LINE 0.51 0.52 0.51 0.53 425,000 221,440 AGRINURTURE 0.53 0.53 AXELUM 2.26 2.36 2.35 2.37 2.3 2.36 48,000 110,850 CENTURY FOOD 39.35 39.4 39.6 39.6 38.6 39.35 521,300 20,382,505 -9,573,080.00 4.44 4.78 4.6 4.79 4.33 4.79 22,000 99,540 DEL MONTE DNL INDUS 3.62 3.63 3.65 3.65 3.59 3.63 4,128,000 14,943,130 -255,890 EMPERADOR 15.62 15.6 15.34 15.7 15.3 15.6 1,177,300 18,138,948 -9,677,832 SMC FOODANDBEV 55.95 55.95 54.8 54.9 53.1 55.95 98,690 5,456,668.50 -2,359,603 0.57 0.59 0.57 0.59 706,000 410,880 -63,400 FIGARO GROUP 0.59 0.59 0.62 0.63 0.62 0.63 281,000 177,020 FRUITAS HLDG 0.63 0.63 GINEBRA 287 293 293 286.6 291.6 6,440 1,863,368 -462,836 291.6 JOLLIBEE 288,241,855 179 180 185.4 186 176.5 179 1,602,950 -7,488,132 KEEPERS HLDG 2.38 2.38 2.35 2.34 2.31 2.38 1,984,000 4,677,200 -651,910 32.6 33.5 34.05 34.05 32.6 33.5 8,500 283,800 -23,590 LIBERTY FLOUR 6.39 6.5 6.39 6.39 6.5 600 3,867 MACAY HLDG 6.5 MAXS GROUP 2.31 2.46 2.37 2.44 2.31 2.31 45,000 107,420 -18,860 MONDE NISSIN 5.8 5.86 5.9 5.94 5.8 5.8 2,570,900 14,992,444 -9,488,107 6.61 6.81 6.82 6.82 6.61 6.61 28,700 189,850 SHAKEYS PIZZA ROXAS AND CO 2.73 2.83 2.7 2.9 2.69 2.83 191,000 536,080 RFM CORP 4.68 4.68 4.65 4.65 4.65 4.68 127,000 592,680 -331,390 SWIFT FOODS 0.051 0.054 0.051 0.051 0.051 0.051 10,000 510 67.45 67.5 66 67.65 65.6 67.5 1,457,000 97,694,640.50 -4,291,772.50 UNIV ROBINA 0.54 0.55 0.54 0.55 558,000 303,020 -41,800 VITARICH 0.55 0.55 VICTORIAS 2.04 2.04 1.82 2.04 2.04 2.04 1,000 2,040 -2,040 CONCRETE B 52.95 52.95 36.5 52.95 52.95 52.95 100 5,295 1.05 1.06 1.06 1.08 1.05 1.05 371,000 390,130 -2,160 CONCREAT HLDG 0.27 0.295 0.27 0.27 0.27 0.27 10,000 2,700 EC VULCAN EEI CORP 2.63 2.63 2.62 2.63 2.62 2.63 33,000 86,780 -78,900 MEGAWIDE 3 3 2.94 2.96 2.91 3 481,000 1,414,730 5,900 15.66 16 15.66 15.66 15.66 15.66 111,000 1,738,260 PHINMA SUPERCITY 4.05 4.05 4.05 4.05 19,000 76,950 4.05 CROWN ASIA 1.63 1.68 1.69 1.69 1.61 1.63 229,000 372,090 1.06 EUROMED 0.98 1.07 1.07 1.06 1.06 3,000 3,200 13 13.1 13 13.1 19,600 255,518 13.1 13.1 PRYCE CORP UNIHOLDINGS 115 143 146 140 140 20 2,860 146 CONCEPCION 13.56 13.52 13.78 13.78 13.54 13.54 15,400 208,882 0.178 GREENERGY 0.175 0.18 0.18 0.161 0.179 2,430,000 419,110 28,130 INTEGRATED MICR 3.38 3.42 3.5 3.53 3.38 3.42 534,000 1,827,190 -269,740 1 1.02 1 1 385,000 385,740 IONICS 1.02 1.02 PANASONIC 10.4 10.6 10.52 10.5 10.5 1,900 19,972 10.52 CIRTEK HLDG 0.64 0.64 0.63 0.64 0.62 0.64 138,000 86,840 -1,260 STENIEL 2.1 2.1 2.02 2.1 2.1 2.1 2,000 4,200
HOLDING & FRIMS
ABACORE CAPITAL 0.3 0.31 0.34 0.345 0.3 0.3 56,380,000 17,953,850 -13,677,950 ASIABEST GROUP 19 19.04 23.9 23.9 19.04 19.04 231,600 5,085,623 5,045 AYALA CORP 460 461 453 462 453 460 159,950 73,451,020 -14,556,900 26.5 26.55 26.4 26.6 26.3 26.55 276,000 7,323,715 2,112,980 ABOITIZ EQUITY 7.56 7.58 7.4 7.62 7.34 7.56 6,044,300 45,477,901 -12,688,903 ALLIANCE GLOBAL ANSCOR 14.4 14 14.1 14.4 14 14 24,300 342,200 -72,000 ANGLO PHIL HLDG 0.62 0.66 0.65 0.65 0.65 0.65 50,000 32,500 6.98 6.98 6.97 6.98 1,217,000 8,494,465 -1,380,715 7 7 COSCO CAPITAL 10.4 10.42 10.32 10.4 1,017,900 10,569,308 -1,775,902 DMCI HLDG 10.42 10.42 FILINVEST DEV 4.65 4.8 4.65 4.65 4.65 4.65 5,000 23,250 FORUM PACIFIC 0.24 0.275 0.24 0.24 0.24 0.24 10,000 2,400 585 585.5 586.5 590 580 585 116,880 67,901,590 61,099,705 GT CAPITAL 4.5 4.56 4.5 4.5 4.5 4.5 77,000 346,500 180,000 HOUSE OF INV JG SUMMIT 23.55 23.55 23.5 22.75 22.75 23.5 2,486,600 58,102,865 24,079,265 LODESTAR 0.365 0.335 0.35 0.36 0.35 0.36 50,000 17,800 14.48 14.5 14.62 14.62 14.46 14.5 1,154,800 16,754,330 -69,232 LT GROUP 1.12 1.11 1.11 1.12 13,000 14,520 PRIME MEDIA 1.15 1.15 SOLID GROUP 1.28 1.28 1.26 1.28 1.26 1.26 19,000 23,960 SM INVESTMENTS 700 702 706 712.5 698 700 177,160 124,377,015 -18,556,275 83.9 84 84 85.95 82.15 84 520,870 44,104,308.50 -6,901,057 SAN MIGUEL CORP 60 61.85 60.05 60.05 60.05 60.05 150 9,007.50 TOP FRONTIER WELLEX INDUS 0.26 0.3 0.26 0.26 0.26 0.26 10,000 2,600 0.076 0.076 ZEUS HLDG 0.075 0.076 0.075 0.075 50,000 3,780 PROPERTY AYALA LAND 21.85 22.1 21.85 22.1 21.55 22.1 6,338,800 139,005,715 -8,472,705 AYALA LAND LOG 1.29 1.3 1.32 1.34 1.3 1.3 174,000 227,340 -68,900 ALTUS PROP 8.4 8.5 8.4 8.49 8.4 8.49 19,500 163,809 -156,240 0.405 0.425 0.405 0.41 0.405 0.41 620,000 253,600 ARANETA PROP AREIT RT 43.45 43.5 43.8 44 43.1 43.5 1,172,900 50,934,860 62,885 CITYLAND DEVT 0.58 0.6 0.6 0.61 0.59 0.6 633,000 376,420 -9,600 CROWN EQUITIES 0.073 0.074 0.073 0.078 0.073 0.074 2,890,000 212,580 2.34 2.35 2.36 2.36 2.34 2.35 74,000 173,780 -25,960 CEB LANDMASTERS 0.67 0.67 0.67 0.67 971,000 650,830 -1,340 CENTURY PROP 0.68 0.68 CITICORE RT 3.55 3.56 3.58 3.6 3.56 3.56 1,770,000 6,320,590 21,360 DOUBLEDRAGON 9.21 9.11 9.2 9.21 9.1 9.2 109,500 998,378 -100,210 1.01 1.02 1.03 1.03 1.01 1.02 9,734,000 9,935,170 -43,860 DDMP RT 4.81 4.94 4.94 4.94 4.94 4.94 5,000 24,700 DM WENCESLAO FILINVEST RT 3 3.01 3.03 3.04 3 3.01 736,000 2,211,890 -1,880,010 FILINVEST LAND 0.74 0.75 0.76 0.77 0.74 0.74 4,323,000 3,234,000 -557,260 0.66 0.67 0.66 0.66 0.66 0.66 42,000 27,720 GLOBAL ESTATE GOLDEN MV 940 1,000 999 1,004 925 1,000 210 208,400 -10,040 PHIL INFRADEV 0.33 0.33 0.325 0.33 0.33 0.33 30,000 9,900 CITY AND LAND 0.51 0.53 0.52 0.53 0.51 0.51 58,000 30,160 510 2.07 2.08 2.1 2.07 2.08 3,530,000 7,352,170 -698,420.00 MEGAWORLD 2.08 0.83 0.84 0.93 0.94 0.83 0.84 42,688,000 37,798,540 -879,930 MRC ALLIED MREIT RT 13.96 14 14 14.04 13.96 14 218,000 3,050,286 -792,690 PREMIERE RT 1.01 1.02 1.03 1.03 1.01 1.02 236,000 241,210 1.12 1.27 1.17 1.17 1.17 1.17 2,000 2,340 PRIMEX CORP RL COMM RT 7.91 7.98 7.9 8.02 7.9 7.91 7,554,500 60,220,092 26,485,882 ROBINSONS LAND 16.2 16.24 16.12 16.3 16.1 16.2 1,742,300 28,214,254 23,690,774 PHIL REALTY 0.11 0.11 0.106 0.11 0.11 0.11 10,000 1,100 3.4 3.36 3.36 3.41 247,000 838,110 3.41 3.41 SHANG PROP STA LUCIA LAND 2.41 2.55 2.58 2.58 2.55 2.55 25,000 63,840 SM PRIME HLDG 23 23.05 22.75 23.15 22.25 23 9,182,700 208,321,910 -90,719,670 SUNTRUST RESORT 0.74 0.75 0.63 0.83 0.61 0.74 746,075,000 455,891,280 244,185,120 VISTA LAND 0.93 0.93 0.92 0.9 0.9 0.92 2,100,000 1,931,400 -1,668,000 1.32 1.35 1.32 1.32 625,000 831,300 13,250 VISTAREIT RT 1.35 1.35 SERVICES ABS CBN 4.03 4.28 4.27 4.28 3.9 4.1 527,000 2,181,000 GMA NETWORK 5.32 5.35 5.36 5.36 5.32 5.33 121,600 649,826 MLA BRDCASTING 5.03 6.99 5.03 5.03 5.03 5.03 100 503 1,581 1,590 1,565 1,605 1,560 1,590 32,895 52,234,010 -7,156,470 GLOBE TELECOM 1,259 1,260 1,252 1,260 42,955 54,080,440 -39,398,465 PLDT 1,260 1,268 APOLLO GLOBAL 0.0048 0.0049 0.005 0.0051 0.0047 0.0049 355,000,000 1,751,600 14.72 CONVERGE 14.64 14.5 14.9 14.5 14.64 1,370,000 20,044,012 -5,533,564 0.83 0.82 0.8 0.83 473,000 385,570 -342,470 DFNN INC 0.84 0.84 0.62 0.63 0.65 0.65 0.62 0.62 10,806,000 6,805,400 996,190 DITO CME HLDG ISLAND INFO 0.125 0.127 0.128 0.13 0.123 0.125 1,910,000 238,670 NOW CORP 0.66 0.67 0.68 0.69 0.66 0.66 1,650,000 1,095,290 0.13 0.135 0.136 0.137 0.13 0.135 790,000 106,900 TRANSPACIFIC BR ASIAN TERMINALS 34.45 34.5 34.9 34.95 34.5 34.5 103,100 3,569,570 -38,390 CHELSEA 0.92 0.9 0.93 0.91 0.9 0.9 241,000 217,040 CEBU AIR 33.5 33.85 32.2 33.85 32.2 33.85 259,200 8,582,735 -2,239,055 565 566 575.5 576.5 559.5 565 1,017,190 575,211,335 -89,840,955 INTL CONTAINER 8.1 8.87 8.87 8.87 8.87 8.87 100 887 LBC EXPRESS LORENZO SHIPPNG 0.59 0.61 0.59 0.59 0.59 0.59 1,000 590 4.34 MACROASIA 4.26 4.36 4.4 4.3 4.3 308,000 1,326,190 3.75 3.8 3.8 3.8 191,000 725,800 -725,800 3.8 3.8 PAL HLDG 0.495 0.52 0.495 0.495 51,000 26,495 HARBOR STAR 0.52 0.52 BOULEVARD HLDG 0.041 0.042 0.044 0.044 0.04 0.042 9,900,000 408,800 0.425 WATERFRONT 0.415 0.42 0.425 0.42 0.42 120,000 50,500 15.3 15.32 15.36 15.48 15.32 15.32 4,100 62,864 CENTRO ESCOLAR FAR EASTERN U 800 814.5 814.5 814.5 814.5 814.5 10 8,145 IPEOPLE 6.28 6.28 5.97 6.28 6.28 6.28 100 628 -628 STI HLDG 1.39 1.41 1.42 1.42 1.39 1.39 605,000 844,330 5,590 1.3 1.32 1.36 1.37 1.3 1.3 498,000 662,770 -59,400 BELLE CORP 2.52 2.53 2.56 2.53 2.53 3,432,000 8,721,880 61,690 BLOOMBERRY 2.57 1.7 1.79 1.7 1.7 1.7 1.7 34,000 57,800 PACIFIC ONLINE PH RESORTS GRP 0.138 0.145 0.14 0.147 0.14 0.145 60,000 8,520 298,836,700 DIGIPLUS 16.34 16.56 17.38 18.24 16.34 16.34 17,389,600 -55,318,836 6.28 6.3 6.17 6.11 6.3 1,328,100 8,298,726 1,023,137 PHILWEB 6.44 0.032 0.032 0.031 0.033 4,900,000 157,900 ALLDAY 0.033 0.033 BERJAYA 8 8 7.05 8 8 8 900 7,200 0.247 ALLHOME 0.245 0.25 0.25 0.24 0.248 1,400,000 340,710 1.13 1.17 1.13 1.13 57,000 66,190 1.17 1.17 METRO RETAIL PUREGOLD 38.15 39 39 38 38.2 447,200 17,074,635 -3,702,260 38.2 ROBINSONS RTL 32.45 32.5 32.55 32.75 32.35 32.45 671,100 21,823,290 -5,758,170.00 PHIL SEVEN CORP 36.1 36.15 36 36.2 36 36.1 460,600 16,614,970 -868,115 2.4 2.44 2.38 2.47 231,000 561,490 23,900 SSI GROUP 2.47 2.47 0.69 0.71 0.72 0.72 0.69 0.69 250,000 172,580 -53,820 UPSON INTL CORP WILCON DEPOT 6.94 6.95 6.98 6.98 6.93 6.95 387,800 2,694,516 -2,167,404 APC GROUP 0.108 0.112 0.103 0.112 0.103 0.112 320,000 35,030 -1,210 2.61 2.97 2.97 3.14 10,000 30,220 -9,080 EASYCALL 3.14 3.14 0.24 0.25 0.26 0.235 0.26 90,000 21,400 0.235 MEDILINES PAXYS 2.52 2.5 2.62 2.52 2.52 2.52 10,000 25,200 0.238 0.238 PRMIERE HORIZON 0.234 0.238 0.234 0.238 370,000 86,780 3.56 3.7 3.57 3.7 3.55 3.7 58,000 208,870 -100 SBS PHIL CORP MINING & OIL APEX MINING 12.28 12.32 12.5 12.56 12.22 12.32 7,851,800 97,324,188 10,990,100 ATLAS MINING 5.66 5.67 5.7 5.75 5.67 5.67 692,700 3,948,491 -344,952 4.47 4.75 4.45 4.79 4.45 4.78 11,000 50,790 BENGUET A BENGUET B 4.38 4.7 4.36 4.36 4.36 4.36 9,000 39,240 COAL ASIA HLDG 0.028 0.028 0.028 0.028 300,000 8,400 5 5 DIZON MINES 4.93 5 4.99 4.99 3,000 14,990 1.07 1.1 1.1 1.06 1.08 733,000 789,970 539,740 1.09 FERRONICKEL 0.081 0.085 0.085 0.086 0.085 0.086 240,000 20,410 GEOGRACE LEPANTO A 0.182 0.184 0.183 0.189 0.181 0.182 45,290,000 8,384,540 LEPANTO B 0.181 0.188 0.181 0.187 0.181 0.181 3,060,000 556,560 -12,860 0.007 0.0072 0.0072 0.0072 0.0071 0.0071 17,000,000 120,800 MANILA MINING A MARCVENTURES 0.69 0.67 0.67 0.69 1,127,000 774,310 0.7 0.7 NICKEL ASIA 3.62 3.65 3.54 3.66 3.54 3.65 3,576,000 12,994,090 1,517,980 OCEANAGOLD 31.95 31.95 31.9 30.9 30.85 31.95 1,584,200 50,153,280 11,019,800 0.365 0.385 0.39 0.39 0.39 0.39 10,000 3,900 ORNTL PENINSULA PX MINING 10.2 10.28 10.36 10.36 10.16 10.28 5,169,700 53,195,088 5,086,078 UNITED PARAGON 0.0056 0.006 0.006 0.0061 0.006 0.0061 30,000,000 180,700 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 1,500,000 17,700 0.011 0.012 0.011 0.011 0.011 0.011 300,000 3,300 ORNTL PETROL B PHILODRILL 0.0086 0.0087 0.0087 0.0087 0.0087 9,000,000 78,300 0.0088 PXP ENERGY 2.34 2.36 2.36 2.39 2.34 2.34 1,432,000 3,363,160 -104,100 PREFFERED ACEN PREF B 1,065 1,068 1,065 1,069 1,065 1,069 215 229,015 AC PREF AR 2,500 2,540 2,520 2,520 2,520 2,520 10 25,200 -25,200 AC PREF B3R 1,989 2,012 2,012 2,012 2,012 2,012 5 10,060 -10,060 2,048 2,058 2,044 2,048 2,044 2,048 1,175 2,406,280 2,406,280 AC PREF B4R 500 503.5 502 502 502 502 100 50,200 ALCO PREF F BRN PREF C 102.7 105.5 105 105.5 105 105.5 600 63,290 CEB PREF 33.4 35 34.4 34.4 34.4 34.4 14,600 502,240 1,000 1,025 1,003 1,003 1,000 1,000 500 500,805 CLI PREF A1 CLI PREF A2 1,045 1,075 1,079 1,079 1,045 1,045 355 382,775 DD PREF 96.6 96.6 96.55 96.5 96.5 96.6 17,440 1,683,673 EEI PREF B 97 98.2 98.2 98.2 98.2 98.2 10 982 1,004 1,009 1,004 1,009 1,004 1,009 225 226,950 FDC PREF B JFC PREF B 990 995 990 990 990 990 150 148,500 MWIDE PREF 5 100.3 102 102 102 102 102 410 41,820 MWIDE PREF 6C 102.6 103.8 103.9 103.9 103.9 103.9 90 9,351 100.4 101 101 101 101 101 10 1,010 MWIDE PREF 7A PCOR PREF 3B 1,000 1,003 1,003 1,003 1,003 1,003 50 50,150 SMC PREF 2L 79 79.05 79 79 79 79 13,060 1,031,740 SMC PREF 2O 80 81.55 81.65 81.65 81.55 81.55 150 12,240.50 76 77 75 76 75 76 32,600 2,458,100 -151,800 SMC PREF 2R 75.1 77.5 75.2 75.2 75 75 9,010 675,752 SMC PREF 2S SMC PREF 2U 76.1 77.5 76.7 78.5 76.7 77.5 720 56,232 TECH PREF B2C 12.12 13 13 13 13 13 600 7,800 8.11 8.32 8.32 8.32 8.2 8.2 3,300 27,444 TECH PREF B2D VLL PREF 2A 84.5 90.65 84.25 90.75 84.25 90.75 20 1,750 -
PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR
3.52 3.99 5.1 5.29 5.31 5.31 5.29 5.29 1,300 6,901
WARRANTS ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8143 2.54% 0.72% -3.64% N.A 3.08% AGI WARRANT 1.1 A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. SMALL, MEDIUM & EMERGING BALAI FRUITAS 0.325 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. HAUS TALK 1.07 ITALPINAS 0.85 * THE FIRST TRANCHE (CORPORATE DEBT FUND 1) OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. MATURED ON MAY 25, 2025. 1.51 MAKATI FINANCE MERRYMART 0.39
“While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.”
December 23, 2025
XURPAS
0.244
1.11
1.1
1.14
1.02
1.1
3,995,000
4,350,480
64,000
0.34 1.08 0.89 1.89 0.405 0.25
0.335 1.08 0.87 1.8 0.39 0.243
0.335 1.08 0.89 1.8 0.39 0.255
0.32 1.08 0.85 1.8 0.39 0.243
0.325 1.08 0.85 1.8 0.39 0.244
600,000 19,000 40,000 1,000 180,000 670,000
197,550 20,520 34,200 1,800 70,200 164,580
1,720 15,600 -30,000
EXHANGE TRADE FUNDS FIRST METRO ETF
98.7
-
99.4
99 99.4 99 99.4 3,930 390,229 -9,975
Wednesday-Friday, December 24-26, 2025
B3
‘Rice output still below 20MMT due to storms’ By Ada Pelonia
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@adapelonia
YPHOON-related shocks would prevent the country’s rice production from again breaching the 20-million metric ton (MMT) mark, according to the United States Department of Agriculture-Foreign Agriculture Service (USDA-FAS) in Manila. In its report, USDA-FAS said it expects Philippine rice output to decline slightly to 19.6 MMT in marketing year (MY) 2025/2026 from the 19.64 MMT recorded in
the previous MY. The US marketing year for rice begins on August 1 and ends on July 31 of the succeeding year. “[This is] mainly due to lower
Local sugar buyers may secure export volume–SRA
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HE Sugar Regulatory Administration (SRA) is urging industry players to procure local raw sugar at a premium, particularly if they are keen on exporting sugar to the United States. The regulatory agency will implement another round of its voluntary purchase program to lift farmgate prices of the sweetener, which fell by 10.45 percent year-on-year to around P2,237 per 50-kilo bag. SRA Administrator Pablo Luis Azcona said the surge in domestic stockpile was propelled by an increase in local output, which depressed prices. The SRA has been implementing a voluntary purchase program for the past two crop years in its bid to prop up farmgate prices. Under the program, raw sugar is typically purchased by traders at a premium and is classified as “C” or reserved sugar for around 90 days. Traders who purchased raw sugar higher than the prevailing market price will be prioritized in the government’s future import programs. However, the SRA and Agriculture Secretary Francisco Tiu Laurel
Jr. recently extended the ban on sugar imports until December 2026. As such, Azcona said the agency will issue a Sugar Order linking the purchase of locally-produced raw sugar to an export allocation at a ratio of 4:1. The upcoming SO will enable traders to buy 400,000 metric tons (MT) of the sweetener from local planters and be included in the export of 100,000 MT of sugar to the US. “Since we have excess raw supply...the Secretary and I decided that we should export the raw sugar to the US to relieve the raw market and hopefully raise the prices,” Azcona told an online news site in an interview. The SR A chief said a voluntary purchase program would allow the agency to allocate an export volume “fairly and transparently with no possibilities for corruption.” “Since we do not know if we will export this year or next year, we just need this buying program to come up with an allocation for export and most importantly raise farmgate price.” Ada Pelonia
'Chronically underfunded' goat breeding program up for review
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HE Department of Agriculture (DA) has ordered a comprehensive review of a goat breeding program launched under the Duterte administration that was “chronically underfunded.” Agriculture Secretary Francisco Tiu Laurel Jr. made the pronouncement after state auditors flagged widespread animal deaths linked to poor care. The Commission on Audit (COA), in its 2024 annual audit report on the DA, noted that 52 of the 101 Anglo Nubian and Saanen goats purchased for the upgrading of small ruminants’ project had died. The animals were intended to serve as breeder stock for high-quality ruminants, but COA attributed the deaths to inadequate feeding and nutrition. As such, the DA said the review will determine whether it should continue the program, particularly the project based at the Pangasinan Research and Experiment Center in Sual, Pangasinan. He said the assessment will look at the program’s technical viability and the resources required to sustain it. Meanwhile, the DA said COA acknowledged its explanation on addressing funding gaps. Citing the audit, the agency said allocations for goat feed were included in the 2025 budget under the National Livestock Program (NLP), with sufficient feed inventory now available at the station. Furthermore, the DA said it also identified and incorporated additional funds for animal care and maintenance into its 2026 budget proposal.
However, the DA said its records showed that beyond basic feed and veterinary needs, no sufficient funding was set aside during the previous administration to expand or sustain the goat production initiative. It added that under former Agriculture Secretary William Dar, the program moved forward without the long-term budget support needed to keep the breeding operation viable. As such, the DA chief said the review will guide whether the agency will revive the program, scale it down, or end it altogether. For now, the agency noted that it plans to distribute the remaining Anglo Nubian and Saanen goats to farmers in storm-battered Catanduanes, where livestock losses have compounded the impact of recent typhoons. The DA said it also wants to temporarily repurpose the 140-hectare Pangasinan facility for high-value crops production and innovation hub while decisions on the breeding program are finalized. “This is envisioned to institutionalize a transformative public-private-community engagement process with transparent and inclusive business model aimed to increase local food production with value-added products and services to boost rural agro-industrial development,” it said. “As the review unfolds, the DA appears poised to draw a clearer line between ambition and sustainability to ensure that future programs are backed not just by vision, but by resources to keep them alive.” Ada Pelonia
palay output in the fourth quarter of 2025 following typhoon-related losses and challenging post-harvest conditions,” the USDA-FAS Manila said. The agency noted that since most farmers bank on sun dr ying of palay to achieve the target of 14 percent moisture content due to their lack of access to mechanical dr yers, wetter conditions due to ty phoons resulted in some losses. “While farmers were able to harvest their palay, post-harvest processes were affected by the wetter conditions in October and November,” it said. “The limited access to posthar vest facilities, specifically mechanical dryers, made it more challenging for farmers to minimize palay damage and postharvest losses.”
The international agency said, however, that government programs buoyed farmer confidence to continue planting rice despite the spike in the prices of inputs. “Despite high fertilizer prices, farmers continue to plant rice, supported by expanded government subsidies and programs t hat help st abi l i ze fa r mgate prices and provide additional market options.” For one, the USDA-FAS Manila said the expansion of the Rice Competitiveness Enhancement Fund (RCEF) to P30 billion from P10 billion would offset rising fertilizer costs in the current MY through government subsidies for fertilizer. “Government programs have played a key role in encouraging farmers to continue rice cultivation in the Philippines,” it said.
“Policies such as the Rice Tariffication Law, production support through seeds and mechanization under the RCEF, price cont rol s, a nd i n f ra st r uc t u re development—including ir r igation and palay dr ying—have all supported rice production.” Furthermore, the USDA-FAS Manila said the National Food Authority’s (NFA) PRICERS program offers farmers an additional market. Under the grain agency’s pricing scheme, it purchases clean and dry palay at P23 to P30 per kilo and fresh or wet palay at P17 to P23 per kilo. “Farmers report a preference for selling to the NFA due to these higher prices and have expressed a desire for expanded NFA warehousing capacity to enable larger purchases at preferential rates.” The government said it will
limit the entry of rice imports by raising tariffs to 20 percent and reducing shipments via a mechanism similar to the quantitative restriction starting in 2026. The Department of Agriculture (DA) said it does not see the need for more rice imports as it expects local production next year will breach 20 MMT. Agriculture Secretary Francisco Tiu Laurel Jr. said the Philippines will release permits for only 450,000 metric tons (MT) of rice imports in January following the lifting of the four-month ban on foreign shipments of the staple grain. The move had been agreed upon with stakeholders during a recent consultative meeting. He noted that an additional 50,000 MT will be reserved for government agencies, which would be triggered should the need arise.
Food experts from PHL to inspect Ireland meat plants
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HE government is inspecting meat plants in Ireland as part of efforts to diversify its sources and beef up domestic supply, according to the Department of Agriculture (DA). Agriculture Secretary Francisco Tiu Laurel Jr. signed Special Order (SO) 2015, which authorized the conduct of an inspection mission for possible accreditation of foreign meat establishments (FMEs) in Ireland. Under the rules, a designated DA Inspection Mission (DAIM) team will undertake an on-site inspection and validation of documents of the importing country to ensure that meat shipments exported to the Philippines “do not pose a threat to the health and safety of the consuming public and the domestic livestock and poultry industry.” “The DA implements a comprehensive set of rules, regulations, and procedures guided by appropriate issuances governing preborder measures, especially in the accreditation of FMEs that may be allowed to export meat and meat products into the Philippines,” the order read. The DAIM team for the in-
WWW.MARKETACCESS.AGRICULTURE.GOV.IE
spection mission in Ireland will be composed of technical experts in food safety program from the National Meat Inspection Service (NMIS) and technical experts on animal and veterinary public health from the Bureau of Animal Industry (BAI). Over the course of its inspection, the DAIM team should verify Ireland’s animal and veterinary public health, the National Food Control System (NFCS) and NFCS implemented at FMEs, and the implementation of Good Manufacturing Practice (GMP) and Hazard Analysis Critical Control Point (HACCP) Program.
The team should submit a report to the DA Accreditation Review Body (ARB) within 30 days from the completion of the inspection mission, on-site inspection, and validation. The Philippines issues two types of accreditation to FMEs such as individual accreditation and system-wide accreditation. A system-wide accreditation means the Philippines recognizes the exporting country’s food safety system as the same as its own domestic system. Thus, any exporter or FME recognized and accredited by the exporting country can ship meat products to the
Philippines. Meanwhile, an individual accreditation or an FME-based accreditation only allows certain companies to export meat products into the country. Under existing rules and guidelines, exporters to the Philippines should secure the accreditation of their FMEs to ship meat and meat products into the country. The accreditation would ensure that an inbound shipment is safe for human consumption and does not pose a threat to the domestic livestock and poultry industries. Data released by the Bureau of Animal Industry last month indicated that the country’s meat imports in January to September went up by 13.8 percent to 1.18 million metric tons (MMT), from last year’s 1.04 MMT, on the back of higher pork and chicken purchases. Pork shipments held the lion’s share of imports in the reference period, growing by 22.23 percent to 632,991 metric tons (MT) from 517,860 MT last year. The bulk of the imports consisted of pork cuts and offal, at 260,726 MT and 208,516 MT, respectively. Ada Pelonia
Wheat trades near one-week high on rising Black Sea tensions
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HEAT prices hovered near a one-week high as fresh tensions between Russia and Ukraine raised the risk of supply disruptions from the Black Sea region. A Russian drone strike late Monday damaged port facilities and a civilian vessel in Odesa, Ukraine’s regional governor Oleh Kiper said on Telegram. Wheat futures in Chicago remained largely steady after surging as much as 1.7 percent a day earlier. The strikes have led to the return of risk premium in prices, which had faded earlier on hopes that a US-backed peace effort would end the Ukraine war and the threat it poses to grain exports from two major shippers, CRM AgriCommodities said in a note. United States Special Envoy Steve Witkoff said this week that President Donald Trump’s officials held meetings with Ukrainian and European counterparts in Florida as part of efforts to end Russia’s invasion. Topics discussed included further developing the existing 20-point peace blueprint, a US security guarantee framework and the economic development plan for Ukraine, he said. Russia, the top exporter of wheat and a major producer of
the grain, may see lower output next year, adding to the support for prices. In other parts of the world, US has launched a naval blockade to prevent sanctioned oil tankers from entering or leaving Venezuela, ratcheting up geopolitical tensions.
Water shortages
AUSTRALIA is on track for a significant expansion of desalination capacity—converting seawater to freshwater—to meet the needs of a swelling population at a time of declining average rainfall. The world’s driest inhabited continent is projected to build
or expand 11 desalination plants worth more than A$23 billion ($15 billion) over the next 10 years, according to a research report by Dominic McNally at Oxford Economics. “Our population growth forecasts imply an additional 190GL/ year in household water demand across major cities by 2035, while the booming data center industry also threatens to rapidly expand urban water use,” he said. “This growing demand coincides with falling average rainfall in major population centers, increasing the vulnerability of existing infrastructure.” Water const r uc t ion ac t ivity slowed after 2010 as a severe
A FARMER carries a bundle of wheat in Izbat Al-Sagyah Al-Kabirah, Egypt. PHOTOGRAPHER: ISLAM SAFWAT/BLOOMBERG
drought receded. However, recent dry periods have reignited interest in water security and coincide with a new boom in water infrastructure investment, including desalination, McNally said. Hou sehold s reg u l a rly face summer water restrictions at times of drought, particularly in the southern state of South Australia, which is mainly classified as arid or semi-arid. Oxford reckons that over the next 10 years, demand for drinkable water will increase by more than 10 percent in some areas. Meantime, BHP Group plans to spend A$840 million to bolster its Olympic Dam underground copper project in South Australia. Oxford says this, together with other nearby resource projects, will require a desalination plant to service increased mining and refining activity, by pumping water from the Spencer Gulf. Green hydrogen and ammonia production also require significant energy and fresh water, favoring production in arid regions like the Pilbara in Western Australia and Gladstone in Queensland, Oxford said. Industrial uses will drive particularly strong construction pipelines in WA, SA, and QLD in the late 2020s, it added. Bloomberg News
B4 Wednesday-Friday, December 24-26, 2025
City Savings Bank Helps School in Remote Cordillera Community Build New Classroom
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ity Savings Bank (CitySavings) has completed another educational infrastructure project in partnership primarily with the Department of EducationCordillera Administrative Region (DepEd-CAR). The project, a new oneclassroom building at Bashoy Elementary School in Kabayan, Benguet, was inaugurated on December 4, 2025.
The project falls under the infrastructure component of DepEd CAR’s Salaknib tan Namnama program, which targets geographically isolated and hard-to-reach communities in the Cordillera region. The program’s name is an Ibaloi term meaning “Protecting and Giving Hope,” reflecting the initiative’s mission to provide support and resources to disadvantaged learners in these communities and ensure they have access to quality education. It also aims to build partnerships between and among government agencies, local communities, and private organizations to achieve these goals. The classroom construction exemplified community collaboration and multi-sectoral partnership, with contributions from multiple stakeholders. CitySavings led the private-sector initiative by donating construction materials, while Aboitiz Foundation Inc. and Hedcor Inc.
City Savings Bank, in partnership with the Department of Education (DepEd) Cordillera Administrative Region (CAR), inaugurates a new classroom at Bashoy Elementary School in Kabayan, Benguet. The Bank led the private-sector initiative by donating construction materials, while Aboitiz Foundation Inc. and Hedcor Inc. provided 10 solar panels (10 kWp) and Starlink internet connectivity, respectively. provided ten solar panels (10 kWp) and Starlink internet connectivity, respectively. All three institutions are part of the Aboitiz Group of Companies. For the public sector, the Philippine Army and Joint Task Force Unit Panagkaykaysa, Bureau of Fire Protection, and Philippine National Police - CAR, local residents mobilized by the Municipal Government of Kabayan and Barangay Bashoy, Parent-Teacher Association, and school faculty, provided labor and technical services. DepEd - CAR Regional Director Estela Leon - Cariño emphasized that the project demonstrated the power of bayanihan (community cooperation) and shared leadership, with construction completed in just four months. Kabayan, Benguet Mayor Rex Alwin Aquisan thanked all contributors, noting that the facility would improve
learning conditions for students in the remote mountain community. “We look forward to replicating this model representing stakeholdership, partnership, and hope nationwide,” mentioned City Savings Bank’s Senior Vice President and External Relations Head, Roel Eric Garcia. Lauding the collective contributions of everyone, Garcia recalled the words of Nobel Peace Prize awardee Bishop Desmond Tutu, and exhorted everyone to continue “to do their little bit of good where they are, because it is these little bits of good put together that will overwhelm the world.” City Savings Bank remains steadfast in its commitment to supporting DepEd’s education reforms and 5-Point Agenda, working hand in hand with the Department to help ensure inclusive, accessible, and quality education for every Filipino learner.
Enjoy Exclusive Holiday Treats this Christmas with PLDT Home
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S families spend more time at home during the holidays, whether hosting reunions, streaming Christmas movies, gaming with loved ones, and staying connected with long-distance relatives, PLDT Home makes the season even more meaningful with its exclusive Holiday Treats. PLDT Home’s holiday offerings surely elevate everyday moments at home. From binge-worthy streaming nights and lag-free gaming sessions to smart living at home, PLDT Home bundles unlimited connectivity, entertainment, and smart home upgrades into one festive promo. For just P1,799 per month, customers who subscribe to PLDT Home Fiber Unli All enjoy free speed boost of up to 500 Mbps for the first six months, perfect for simultaneous streaming, online gaming, and video calls with loved ones. This promo also comes with free installation, a one-year iGV Game Pass, Cignal TV, and P1,000 worth of Rewards Crystals, making holidays even more enjoyable for families. Whether it’s movie marathons after Noche Buena, kids gaming during the school break, or virtual holiday catch-ups with relative and friends, PLDT Home ensures reliable connections this Christmas. This season is also the perfect time to refresh and upgrade the home. With Next Upgrade smart home gadgets, PLDT Home customers can enjoy discounts of up to ₱14,995 off on a wide range of devices, including smart TVs, home appliances, wearables, and smart home sensors. These upgrades help create a more comfortable,
Sarap ng Pasko, Sarap ng Purefoods
BingoPlus celebrates SexBomb reunion with mall show, studio visit
SexBomb Girls performing at the BingoPlus’ Light Up The Christmas Tree mall show
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INGOPLUS, the country’s leading digital entertainment platform, amped up the excitement with a fun-filled mall show and special BP Studio guesting featuring the iconic SexBomb Girls. Rochelle Pangilinan, Aira Bermudez, Mia Pangyarihan, Evette Onayan, Weng Ibarra, Monic Icban, Cheche Tolentino, Jacky Rivas, Mae Acosta, and Cynthia Yapchingco electrified the crowd with nostalgic performances that proved they’re still a powerhouse
after all these years. Rising to fame in the early 2000s, the SexBomb Girls became the country’s ultimate girl group. Now, BingoPlus is supporting their reunion through a mall show, studio guesting, and a concert to celebrate their legacy and reconnect with fans. During the four-day mall show activation held from December 4 to 7, 2025, the SexBomb Girls took the stage on December 6, delivering an energetic performance.
They also interacted with fans throughout the program, including a “Spaghetti” dance showdown. In addition, the girls participated in the BingoPlus Christmas Tree Lighting ceremony, where they helped promote the platform’s upcoming campaign, Light Up the Christmas Tree. The campaign features a prize pool of P450,000,000 pesos and will run until to January 1, 2026. Moreover, mall-goers enjoyed BingoPlus booths, including the Candy Cane Color Booth, Color Match Booth, Human Slot Booth, and a photobooth. The BingoPlus Foundation booth on the other hand, lets guests write messages on the Wall of Giving and drop in-kind donations for typhoon victims, while the Donation Booth lets participants convert points into donation items, giving back to the community while enjoying the event. Also, the SexBomb Girls made a special appearance at the BingoPlus studio during the lively segment, “BingoPlus Mega Saya! Sure Bingonaryo!” with BP hosts. They brought their signature energy to the stage with a live performance of their iconic hits. During the show, the excitement skyrocketed as three lucky winners took home P500,000 each, another walked away with a jaw-dropping P1,000,000, and two more winners scored the night’s biggest jackpots of P2,500,000 and P5,000,000. Bringing fun, entertainment, and prizes to Filipinos, BingoPlus continues to support local talent and elevate live events. Through sponsorships like the SexBomb Girls’ mall show, studio guesting, and more, the platform connects artists with fans and creates memorable experiences with more exciting events still to come.
efficient, and future-ready home, which is ideal and timely for hosting guests or simply enjoying quieter holiday vacation with family. To make the holidays even more rewarding, PLDT Home Fiber subscribers automatically earn up to 1,000 worth of Rewards Crystals, which can be used for bill rebates or redeemed with popular partner merchants such as Grab, Maya, Steam, Garena, Zalora, Lazada, and more. That’s perfect for holiday shopping, food deliveries, or digital treats. PLDT Home also extends its holiday treats for Fiber Prepaid customers who also get a chance to win Lazada vouchers and exclusive Next Upgrade discounts. Enjoy PLDT Home’s Holiday Treats until December 31, 2025. For more information, visit www.pldthome.com.
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N a country of more than 7,600 islands, Christmas in the Philippines is celebrated in many ways, varying across the regions through traditions that have remained through generations, along with new iterations that reflect the growing diversity among Filipino families. Today’s Christmas celebrations in Filipino households range from grand gatherings among extended families, along with OFW households, dual-income no kids (DINKs) couples, single parents, and same-gender partners who are marking the season in their own meaningful way. Through it all, the desire to gather, to share, and to connect remains at the heart of each celebration. This holiday season, Purefoods recognizes
both the traditions that have been passed down through generations, along with the new meaningful ones that we create along the way. Around the Noche Buena table, families remember the Christmases past, while embracing the present, and celebrating what brings them together. Whether its recipes that have been handed down through many generations, or new dishes to celebrate the joy of togetherness, Purefoods provides a wide range of products to make every holiday meal more memorable. As a legacy brand with generations-long trusted consistency in quality and taste, Purefoods products have long been a part of occasions that matter most to Filipino families. The different Purefoods products help make homecooked Noche Buena feasts easier and more enjoyable. What’s more, the products are easily available in supermarkets, groceries, and markets to support different regional traditions and unique family celebrations across the country. As part of its mission to spread Christmas cheer, Purefoods turned the homecoming of OFWs into a full-blown holiday celebration this December, taking center stage at the newly refreshed Ninoy Aquino International Airport Terminal 3 just as its new facilities officially opened. Seizing this landmark moment, the “Sarap ng Pasko, Sarap ng Purefoods” installation at the Arrival area and a dazzling LED display at the new Mezzanine Food Hall transformed the terminal into a festive gateway home, filling arrivals with warmth, joy, and inspiration to create new Christmas memories with their loved ones through food. Food that is lovingly prepared and joyfully shared is at the core of every Christmas celebration. No matter how Filipino families celebrate, Purefoods helps bring the joy of the season to every table.
Holly jolly days await at ibis Styles Manila with stylish stays, festive flavorful offers
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HIS holiday season, ibis Styles Manila Araneta City invites guests to unwrap the magic of the holidays with a celebration that blends stylish stays, festive flavors, and merry moments. From twinkling lights adorning the lobby to heartwarming aromas wafting from the kitchens, the hotel transforms every corner into a playground of cheer, where families, friends, and loved ones can create lasting memories in an atmosphere of comfort, style, and joy. Step into “Stylish Stays, Merry Days,” a thoughtfully curated holiday escape designed to make every morning bright and every evening cozy. Available for booking until January 10, 2026, with stays from December 1 to 23 and 25 to 30, 2025, and January 1 to 11, 2026, guests can unwind in Standard Rooms at P3,799 nett/night or Family Rooms at P7,799 nett/night, complete with hearty breakfast buffets, two frothy Winter Wonder Float drinks, and flexible early check-in at 10 am and late check-out at 2 pm (subject to availability). For the peak holiday dates December 24 and 31, 2025, rates are P4,199 nett/night for Standard Rooms and P8,199 nett/night for Family Rooms. Special Christmas Eve and New Year’s Eve packages, available for booking until December 23 and 30, 2025, include festive dinner buffets for P7,299 nett/night for Standard Rooms and P11,299 nett/night for Family Rooms and for New Year’s Eve, P9,999 nett/ night for Standard Rooms and P13,999 nett/night for Family Rooms
exclusive access to the Carnival-themed Countdown Party at The Edge Skyview Bar, allowing guests to ring in 2026 with sparkle, style, and a breathtaking view of the city skyline. All are available for purchase at my.novotelmanilaaranetacity.com. For those whose hearts beat to the rhythm of flavors, strEATs invites guests to experience “A Dash of Style, a Splash of Flavor” with its weekend holiday buffets until December 2025. Guests can indulge in roasted holiday classics, savory seasonal sides, and desserts that sparkle with festive cheer, priced at P1,499 nett/person for lunch and P1,799 nett/person for dinner. Children nine years old and below eat for free when accompanied by a paying adult, making it the perfect family-friendly experience. On Christmas Eve and New Year’s Eve, special lunch and dinner buffets are available from P1,400 to P2,026 nett/person, with New Year’s Eve packages including access to the Cirque du Skyview Carnival Countdown Party. Special rate for buffets is available at my.novotelmanilaaranetacity.com. A cozier and more intimate holiday experience at Le Bistro with “Holly Jolly Grazing” from decadent cheese and charcuterie boards (P2,499 nett for four persons), holiday deli gatherings (P1,299 nett/ person, minimum 10 persons), and Festivi-Tea experiences (P1,299 nett for two persons).
Just in time for the season of gatherings, The Edge Skyview Bar turns up the festive heat with its Holiday Sizzle Package. Available daily until December 31, 2025 from 5 pm to 2 am, the platter is priced at P2,026 nett (good for five persons) and comes with a celebratory choice of one carafe: Margarita, Mojito, Sangria, Mocktail, or alternatively five bottles of beer. Guests can also elevate their night with additional carafes at P926 nett, adding a smooth splash of holiday cheer to every bite. Adding a playful splash of sweetness to the season, strEATs Coworking Café invites guests to cool down with its Winter Wonder Float, a frosty treat, making holiday moments even merrier on every sip. Available daily until December 31, 2025 at P149 nett per float. For guests seeking warmth in every cup, Le Bistro stirs up the season with Cupful of Cheers, a festive lineup of holiday lattes crafted to bring comfort, coziness, and creamy joy to every visit. Available daily until December 31, 2025, these indulgent drinks are priced at P150 nett (hot) and P170 nett (cold). For those who love giving as much as celebrating, “STYLESsentials Holiday Bundles” offer carefully curated gifts until December 31, 2025, featuring tote bags, mugs, and notebooks priced P399 to P799 nett, perfect for friends, family, and colleagues who deserve a little extra cheer.
A splash of stripes as ibis Styles Manila welcomes the holidays with lively red and green accents that make every moment feel joyfully stylish.
www.news.businessmirror@gmail.com
Advice for the old at heart FINEX FREE ENTERPRISE George S. Chua
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ES, it is that time of the year people talk about doing your New Year’s resolution, turning over a new leaf and so on, which reminds me of a popular song “Advice for the young at heart” from 1989 by the Tears for Fears. I can hear the haunting words in my head “Soon we will be older; When we gonna make it work?” I understood the message and did everything I could when I was younger to make it work. If you are already a card carrying senior citizen and you haven’t “make it work” yet, you really don’t have much time left. But perhaps you could at least move in the right direction and try to prolong your stay in the “pre-departure lounge” to buy yourself some more time before you go. Here then is my advice for the old at heart. Resorting to stealing, lying, cheating, becoming delusional and other criminal acts is not the right way and will resort in a generational stigma that will hurt and haunt your children and grandchildren with the burden of your folly. Correct what you can while you are still alive and set things straight and even if you could not make it work, don’t be a bad role model. Karma is a bitch and if it doesn’t get you now it will catch up sooner or later. Be fiscally responsible. Live within your means and downgrade your lifestyle as you need to. Living in a fantasy of what you think you are entitled to will only lead to disaster and becoming a burden to someone who cares about you, until the breaking point is reached then you are cut loose to fend for yourself. Don’t spend extravagantly, moderate your expenses and don’t fall victim to scams and all sorts of friends asking for loans, investments, donations and other ways to get your money. Once your sources of income dries up and you have to rely on your savings, the faster you will realize all of these. Realize the limitations of your physical and mental abilities. While you are still mobile, be careful of falling down, getting into accidents and being sick. Try to stay safely active by walking rather than running, don’t force yourself, rest when you have to and avoid physical contact sports. Your mental abilities may no longer be as sharp as they used to. Keep a planner, make yourself notes, use an alarm clock on your phone, establish a routine, keep your mind active, have friends and family to talk to and do things that you like to do. Be kind to yourself. Treat yourself to longer rest periods and afternoon naps. Have tea with your friends and talk about the good old days. Go malling, take a walk in the park, watch a movie, do board games, play non-contact sports that you like, look after your grandchildren, and so many other things that stimulates your mind and your body. Even doing work or part-time work will be good for you to keep you busy and feel useful. Things that may not be healthy for you such as a sweet dessert, probably can be indulged in small doses and on occasion, subject to your doctor’s advice. Stay away from toxic people, you don’t need the drama and the stress from such encounters. Finally, think positively, be with people you like and do the things that you look forward to. You can even try to learn new things like how to use an app, cooking, dancing or having a pet to keep you company. Enjoy life and have a Merry Christmas and a Happy New Year! The views and comments of Dr. George S. Chua are his own and not of the BusinessMirror or the Financial Executives Institute of the Philippines (Finex). The author was 2016 Finex President and a life member, 2010 to 2020 Federation of Philippine Industries president, an active entrepreneur in fintech, broadcast, media, telecommunications and properties. Dr. Chua is a Fellow at the Institute of Corporate Directors, a Professorial Lecturer 2 at the University of the Philippines Diliman and BGC Campus and Vice Chairman of the Market Governance Board of the Philippine Dealing and Exchange Corp. Comments may be sent to georgechuaph@yahoo.com or gschua@up.edu.ph.
Banking&Finance
BusinessMirror Editor: Dennis D. Estopace Wednesday-Friday, December 24-26, 2025 B2-1 •
DOF plans de-bureaucratization of BIR
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By Reine Juvierre Alberto
@reine_alberto
HE Department of Finance (DOF) is reviewing changes to the Bureau of Internal Revenue’s (BIR) issuance of Letters of Authority (LOAs), including limiting their frequency and merging certain audits. Speaking to reporters last week, Finance Secretary Frederick D. Go said the DOF is reviewing limiting
the frequency of LOAs to once a year to ease the audit burden. Go noted that some companies
receive multiple LOAs in a single year, such as a value-added tax (VAT) LOA in the first half of the year and another in the second half. The DOF is also considering reducing the BIR units given authority to issue LOAs as multiple offices currently hold this power. The Finance chief said the DOF is also looking into merging the VAT and income tax audits into a single investigation to prevent firms from dealing with separate audit teams for different tax types. Specifically, the Assessment Division and VAT Audit Section’s functions for the issuance of LOAs under Assessment and VAT will be merged.
The most important reform, according to Go, is the creation of a centralized digital record of all issued LOAs. This system would allow taxpayers and authorities to verify whether an LOA is authentic or fake to curb fraud and abuse. “Those are the policies and guidelines that we are reviewing, that we’re seriously considering,” Go told reporters. The BIR temporarily suspended all field audits and other related operations, including the issuance of LOAs and Mission Orders (MOs), last month. The suspension covers all BIR offices involved in audit and field op-
erations, such as the Large Taxpayers Service, Revenue Regions and District Offices, Assessment Divisions, VAT Audit Units and Intelligence and Special Audit Units. Only urgent or legally required cases—such as active criminal probes, one-time transactions, audits nearing prescription within six months, refund claims requiring verification or matters supported by verified intelligence—will be exempt from the suspension. All LOAs must undergo clearance from the commissioner of the BIR before their issuance to prevent arbitrary, repetitive or overlapping audit orders.
BSP: Scammers using central bank grift Messianic in Mission: Associations and the T Power of Purpose HE Bangko Sentral ng Pilipinas (BSP) is asking the public to remain vigilant against scammers who misuse the name of the central bank or pretend to be BSP officials to bilk information and assets from people. A public advisory the central bank issued last Tuesday read that these scammers usually show falsified documents containing the BSP’s name and logo, or the name and signature of a central bank official. These fabricated documents are being cited as “assurance letters,” “Security System IT Department Renewal Request for OTP PIN Code with TSS,” “Confirmation of Beneficiary Bank” and “Terms of Loan Contract.” Criminals also say these fake documents are certifications for loans, deposits, withdrawals, fund transfers, credit cards,
money changing, investments or insurance. The ruse involve scammers demanding advance payments or sensitive data, such as bank account details, passwords and other confidential data, creating an unusual sense of urgency. The BSP was emphatic in its reiteration that the central bank does not authorize or endorse individuals or firms to collect “fees” or payments purportedly for anti-money laundering clearance, taxes, insurance, and other fabricated charges. “Legitimate financial regulators, law enforcement agencies, and financial institutions do not ask for this type of sensitive information through unsolicited calls, e-mails, or text messages,” the BSP added. The central bank urged the public to remain alert to loan offers claim-
ing to be “approved” or “guaranteed” by the BSP, urgent requests for fees to release loan funds, documents such as “Confirmation of Beneficiary Bank” and “Assurance Letter”, misusing the BSP’s name, or communications with poor grammar, incorrect spellings or inaccurate logos. Those who receive suspicious documents or messages are advised to ignore and not engage with the sender, refrain from sharing personal or financial information. They should also report incidents immediately to the central bank. If a financial account has been compromised, individuals should contact their bank or e-money issuer through official channels. Scammers may also be reported to the Philippine National Police and the National Bureau of Investigation. Reine Juvierre S. Alberto
Govt legal counsel to back PDIC in cases By Manuel T. Cayon
@awimailbox Mindanao Bureau Chief
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AVAO CITY—The Office of the Government Corporate Counsel (OGCC) has assured Philippine Deposit Insurance Corp. of its legal blanket as the PDIC implements its mandate to protect depositors from the technical and legal maze commonly wrought in the aftermath of bank closures. The OGCC issued the assurance when its officials (PDIC President and CEO Roberto B. Tan and Government Corporate Counsel Solomon M. Hermosura) signed on December 16 a memorandum of
agreement for the provision of special legal services to the PDIC. The agreement only reaffirmed our commitment to expand a long-standing collaboration, read a statement issued by the OGCC. Under the agreement, the OGCC will assign a dedicated team to provide legal assistance and representation to the PDIC. This team’s services will include the enforcement of the PDIC’s rights, representation in mediation and arbitration proceedings, advisory on regulatory compliance and major procurement projects, legal risks assessments, conduct of preliminary and formal investigations in administrative
cases, and the preparation and filing of foreclosure petitions. Tan said the partnership will enable the PDIC to navigate complex legal challenges and focus on delivering impactful programs and services to the depositing public and the country’s financial system. Hermosura also expressed full support to the collaboration, citing the OGCC mandate to support government-owned and controlled corporations, “and in the case of the PDIC, it is an opportunity for the OGCC to help the Corporation preserve confidence in the banking system, a key pillar of a stable economy.”
Luzon assets up for PDIC e-bidding in Jan
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HE Philippine Deposit Insurance Corp. (PDIC) announced it plans to sell a major portfolio of prime real estate as it launches its first electronic public bidding (ebidding) for 2026, offering investors and property seekers a rare opportunity to acquire strategically located assets across Luzon. The submissions of bid will start at 9:00 a.m. on January 28, 2026 to 1:00 p.m. on January 29, 2026, exclusively through the PDIC e-bidding portal, according to the state insurer. The submitted bids will be opened at 2:00 PM on January 29,
2026, it added. Forming part of the PDIC’s extensive inventory of corporate and closed bank assets, all properties will be offered for sale on an “as-is, where-is” basis. Headlining the ebidding is a prime commercial lot situated in Barangay Poblacion I, Santa Magdalena, Sorsogon, Bicol, “a highly-strategic location ideal for business and development.” According to the PDIC, the asset portfolio also includes 43 residential properties, 36 agricultural properties, and nine mixed residential and agricultural properties with lot sizes
ranging from 70-square-meter to six-hectares, catering to a wide range of buyers from homeowners and farmers to developers and long-term investors, the PDIC added. These properties are located in Albay, Batangas, Bulacan, Camarines Norte, Camarines Sur, Cavite, Isabela, Laguna, La Union, Pangasinan, Rizal, Sorsogon, Tarlac, and Zambales. Interested parties are encouraged to explore the complete catalog of properties, along with detailed descriptions, bidding requirements, procedures, and conditions, available on the PDIC e-bidding portal.
Association World Octavio Peralta
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ERRY Christmas! The phrase “messianic in mission” may sound lofty, even dramatic. Its origins lie in the word “messiah,” a Hebrew term for “anointed one” or “deliverer.” While the religious roots are undeniable, the term has also taken on a secular meaning. In everyday language, being “messianic” refers to having a passionate, unwavering, and transformative commitment to a cause. It is in this non-religious sense that the phrase can be powerfully applied to associations. Associations are mission-driven organizations. Unlike businesses that primarily exist for profit, the purpose of associations is to serve, whether advancing professions, strengthening industries, or empowering communities. To describe them as “messianic in mission” highlights, not only their clarity of purpose, but also their intensity of passion. At their best, associations embody this sense of single-minded dedication, focusing their energy and resources on outcomes that create real impact. For association leaders, the idea of being “messianic in mission” carries three important lessons: 1. It underscores passion with purpose. Association work is not easy. Leaders constantly juggle scarce resources, volunteer fatigue, and competing stakeholder interests. Yet when they remain grounded in a deeply felt mission, they are able to rise above obstacles. Their passion is not blind zeal; it is purposeful, directed energy that sustains organizations in times of challenge. 2. It inspires others. Members are drawn to leaders who embody the mission with conviction. A leader’s belief in the transformative power of the association becomes contagious, igniting engagement, volunteerism, and collective ownership. In this sense, “messianic” dedication is not a solo effort but a spark that empowers others to contribute their time, talents, and resources.
3. It drives change. Associations that leave a mark are those that refuse to settle for the status quo. Whether advocating for policy reforms, raising professional standards, or promoting innovation, they embody a restless energy to push boundaries. Messianic focus ensures that they are not only caretakers of current systems but also catalysts for transformation. We do not need to look far for examples. Rotary International, for instance, has pursued its campaign to eradicate polio with a persistence that is nothing short of messianic. Over decades, and despite enormous challenges, it has mobilized resources and partners around the globe to pursue a seemingly impossible mission. Similarly, during the Covid-19 pandemic, national associations of healthcare professionals and educators displayed extraordinary commitment. Beyond providing member support, they advocated for policies, training, and resources that safeguarded both their professions and the wider public. These examples show what happens when associations fuse passion, resilience, and mission in a sustained way. Of course, being “messianic in mission” must be balanced with realism. Zeal without strategy can lead to burnout, frustration, or disillusionment. What makes associations effective is not only their deep conviction, but also their ability to translate passion into practical actions, achievable goals, and measurable outcomes. Ultimately, the phrase invites association leaders to view their work not merely as administrative or managerial, but as transformative. To be “messianic in mission” is to serve with unwavering passion, to inspire others to join, and to pursue change with resilience and focus. In doing so, associations can truly fulfill their highest purpose: to uplift, empower, and leave a lasting legacy for their members and society. Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror. E-mail: bobby@ pcaae.org.
Finance loan firm earns ‘Ba2’ Moody’s rating for extensive franchise
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ON-BANK lender Asialink Finance Corp. (AFC) earned a “Ba2” long-term corporate family rating (CFR) with a stable outlook from Moody’s Ratings for its strong capitalization, solid profitability and extensive domestic franchise. In a statement it issued last Monday, the credit rating agency said the assessment takes into account AFC’s modest asset quality, which is driven by rapid loan growth and focus on higher-risk borrower segments, with some of the risk balanced by strong collections and recovery processes. The rating also factors in AFC’s low
on-balance sheet liquidity and concentrated funding base, it added. What would warrant a credit rating upgrade, Moody’s Ratings said, is if AFC maintains structurally higher on-balance sheet liquidity with more diversified funding sources. This should be combined with an improvement in its asset quality, including its provisions on both loan losses and real and other properties acquired (ROPA), while maintaining stable capital and profitability, it added. However, a downgrade could occur if AFC’s asset quality worsens significantly, leading to lower profitability and
capitalization. Specifically, a sustained increase in provisions and losses on ROPA such that its profitability falls below 3.5 percent, or if its capital ratio drops to below 18 percent without clear visibility on a capital raising plan. “Additionally, weakened access to funding or lower liquidity will also result in a downgrade,” Moody’s Ratings said. AFC is one of the country’s largest non-bank financial institutions, which focuses on lending to micro, small and medium enterprises (MSMEs) through secured loans backed by vehicles and
real estate. “Its strong franchise is evidenced by its branch distribution across the country, extensive collection infrastructure and dealer partnerships, providing it with a competitive business advantage,” the credit watcher said. Moody’s Ratings also noted that AFC has a high default rate in the low double-digit range, although losses are cushioned by effective collateral recovery and asset disposals. “We expect AFC’s asset quality to remain largely stable, with risks arising from its high loan growth and high level of defaults, balanced by its strong abil-
ity to collect and sell collateral,” Moody’s Ratings said. Despite some pressure in 2024, Moody’s Ratings said profitability remains solid. AFC’s return on assets declined to 5.0 percent from 6.9 percent a year earlier due to a larger balance sheet, higher credit provisions, and losses on repossessed assets. Still, AFC recorded a net interest margin of 23 percent, the highest among its rated regional peers, and Moody’s expects earnings to benefit from lower funding costs over the next 12 to 18 months. Reine Juvierre S. Alberto
B2-2
Health&Fitness
Wednesday-Friday, December 24-26, 2025
BusinessMirror
Editor: Anne Ruth Dela Cruz
Persistent breathlessness may signal pulmonary hypertension By Candy P. Dalizon | Contributor
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40-YEAR-OLD woman who was a frequent traveler suddenly found herself struggling to breathe after taking just a few steps. What began as unexplained fatigue and shortness of breath quickly disrupted her daily life as these symptoms were initially dismissed as asthma, infection, or simple exhaustion. According to cardiologist Dr. Alejandro Ramon Prieto, this is a familiar and dangerous pattern. “Shortness of breath and easy fatigability are universal symptoms,” he explained. “They often mimic asthma, pneumonia, chronic obstructive pulmonary disease, anemia, or even thyroid disorders.” Pulmonologist Dr. Catherine Tubig added that while lung conditions such as tuberculosis or pneumonia typically present with fever or phlegm, pulmonary hypertension (PH) often does not. “If a patient has a normal chest X-ray and normal pulmonary function tests but continues to experience breathlessness, pulmonary hypertension must
be seriously considered,” she stressed. In such cases, both experts agree that the next critical step is a 2D echocardiogram. In this patient’s case, the results were telling: a normal left heart but a dilated right ventricle with clear signs of pressure overload, classic indicators of pulmonary hypertension.
Understanding PH and PAH PULMONARY Hypertension is a condition marked by abnormally high blood pressure in the arteries of the lungs. This increased resistance forces the right side of the heart to pump harder, eventually leading to right-sided heart failure if left untreated. PH is rarely a disease on its own. It most often develops as a complication of other conditions, including left-heart disease, chronic lung illnesses such as chronic obstructive pulmonary disease (COPD), scarring from past infections like tuberculosis, sleep apnea, chronic blood clots in the lungs, or congenital heart disease. To clarify these causes, the World Health Organization classifies PH into
five groups. Among these, Group 1 or Pulmonary Arterial Hypertension (PAH), caused by narrowing and thickening of the lung vessels, is the rarest and most severe form. While PAH is considered a rare disease, experts stress that it is very much a clinical reality, one that causes significant disability and, if untreated, can be fatal. “Many clinicians used to focus almost exclusively on the left heart, hypertension, heart attacks, heart failure,” said Dr. Tubig. “Pulmonary hypertension was often overlooked or thought to be clinically insignificant, which led to underdiagnosis and undertreatment.” PA H dispropor tionately affects women, particularly those aged 40 to 50. It is progressive and potentially fatal, requiring targeted medications that specifically relax and protect the pulmonary arteries.
Why diagnosis is often delayed THE path to diagnosis depends heavily on which specialist a patient consults first. “Pulmonologists usually start with
Sleep-deprived driving as dangerous as drunk driving By Rory Visco | Contributor
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LEEP deprivation is emerging as a serious public safety threat on Philippine roads. Medical experts warn that drowsy driving—particularly the phenomenon known as “microsleep”— can impair reflexes and judgment as severely as alcohol. And this remains largely unrecognized by both motorists and policymakers. “Personally, I think drowsy driving is more dangerous,” explains Dr. Jimmy Chang, president of the Philippine Society of Sleep Medicine (PSSM), during the media launch of PSSM’s drowsy driving prevention campaign called “TABI MUNA.” “The reason is maybe because there is a lack of awareness regarding it,” he added during an interview with BusinessMirror. “TABI MUNA” is a three-episode series of TV commercials (TVCs) made in partnership with the Metropolitan Manila Development Authority (MMDA), Department of Transportation (DOTr), Uratex Philippines, Philips Respironics, and Petron Corp. “TABI MUNA,” which means pull over in English, is a phrasal verb in driving where the motorist is advised to “pull over” on the road shoulder to take a nap if physically tired or lacks sleep. The episodes were recently launched during the Metro Manila Film Festival parade and is now being shown on the MMDA LED billboard along EDSA and may run starting January next year in movie houses. Dr. Chang pointed out that staying awake for extended periods produces effects similar to intoxication. “If you’re 18 hours awake, it’s equivalent in terms of how it affects the driver. But the fact that it is an unrecognized threat that probably makes it more dangerous.” At the center of this risk is microsleep, which Dr. Chang defined as brief involuntary episodes, usually ranging from three to 15 seconds, where a person becomes unresponsive, and often occurs without warning, even when the eyes are open. During these episodes, he said drivers
lose reflexes, awareness, and memory. “So literally, you’re sleeping. You have no reflexes, no memory of what happened, and you become very unresponsive.”
Sleep deprivation and the Filipino context SLEEP deprivation is the primary trigger for microsleep, says Dr. Chang, when a person consistently gets less than six to seven hours of sleep per night. This creates a growing “sleep debt” that the body will eventually try to repay, often during dangerous moments. “The more you push your body to stay awake, especially when in a very monotonous situation, your brain will suddenly look for sleep,” he said. This risk is magnified locally, where a survey showed that Filipinos are the most sleep-deprived in Southeast Asia. “Putting two and two together, then probably we have the biggest incidence of road accidents due to drowsy driving in the region as well.” The danger intensifies at highway speeds. A driver experiencing a threesecond microsleep while traveling at 60 kilometers per hour covers roughly 50 meters without control. At 15 seconds, that distance reaches 250 meters. At 100 kilometers per hour, he said a vehicle can travel more than 400 meters while the driver is effectively unconscious. Despite these risks, drowsy driving remains largely invisible in official crash data. Unlike drunk driving, which is clearly legislated and enforced, fatiguerelated crashes are rarely identified as such, Dr. Chang noted.
Advocacy filling the policy gap DR. Chang acknowledged that while a bill on sleep disorders awareness has been proposed, it has stalled. “Regardless of the bill, what we can do now is we try to make noise,” he said. “We try to increase the awareness. And hopefully once the legislators notice it, this is a worthwhile endeavor to push.” PSSM has partnered with agencies such as the MMDA and the DOTr to advance road safety education. “After the
crash in SCTEX, we immediately reached out to the MMDA, who then invited us to be one of the pillars of road safety,” Dr. Chang narrated. Certain groups remain especially vulnerable, including shift workers, commercial drivers, and young motorists. Teenagers and young adults, Dr. Chang added, often combine poor sleep habits with limited driving experience, heightening accident risks.
Business has a stake in sleep health THE holiday season further compounds the risks, with late-night gatherings, alcohol consumption, and long-haul travel becoming routine. This is where private sector involvement becomes critical. “At Uratex, we’ve spent decades focused on sleep not just as comfort but as something that directly affects how people function every day,” Gerry Camacho, Sleep Business Unit Marketing Head of Uratex, tells BusinessMirror. “Sleep is not just about rest. It affects your performance, your focus, and your decision making.” Camacho stressed that fatigue is often underestimated compared to other road hazards like speeding or drunk driving. “Science shows that lack of sleep slows reaction time, affects judgment, and reduces attention, especially when behind the wheel. A brief lapse in focus, a delayed reaction, can lead to serious consequences,” he emphasized.
A preventable public risk FOR Dr. Chang, the message is clear. “Sleepy driving isn’t just about you,” he said. “It risks everyone on the road. If you are tired, pull over. No meeting or deadline is worth a life.” As policymakers, employers, and motorists continue to focus on speed and alcohol as road hazards, medical experts argue that sleep deprivation deserves equal attention—warning that awareness may be the most effective tool in addressing one of the country’s most overlooked public safety risks.
Skincare is a gift that keeps on giving this holiday season By Patrick Villanueva | Contributor
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HINY skin is a gift that keeps on giving. After all, who wants to celebrate the holiday season with breakouts and skin irritation, right? Although skincare remains to be on top of the wish list of many, making it a gift requires a bit of research to ensure that you give them the right one. Not to mention, it has to be safe, keeping the receiver away from harmful substances that could negatively affect their skin. So, if you are looking for a brand that is safe and well-versed in skincare, Dermorepubliq may be your choice. It is FDA-approved and provides science-based solutions in their products. And this holiday season, the brand has well-curated, beginner-friendly bundles
that are affordable, and show visible results. Their Vitamin C and 1 percent Retinol Morning + Night Set (Sensitive Skin) is perfect for those who want brighter, smoother, well-rested skin. Priced at only P798, it is a simple and complete morning and night routine that brightens and evens out skin tone at daytime with its 15 percent Vitamin C + E + Ferulic serum and helps repair and renew skin at night with 1 percent retinol. Meanwhile, the Advanced Acne and Oil Control Kit is the go-to for teens, students, or those experiencing breakouts. The kit, priced at P1,146, is a four-step skincare routine that unclogs pores, controls excess oil, calms inflammation, and helps shrink stubborn blemishes. If the receiver complains about acne, then the Advanced Brightening Kit is your
solution for P1,366. It can clear breakouts and fade dark marks, while giving a more even and radiant look for the skin. This kit features a gentle cleanser, Ultra Whitening Toner, a Niacinamide + Tranexamic Acid + Alpha Arbutin serum, and the brand’s signature 7-Oil spot treatment. Those who want to shine brighter will appreciate the Advanced Brightening Kit at P1,217.00. Pairing the Ultra Whitening Toner, brightening serum, and 15 percent Vitamin C, it gives a “glass skin” effect, effectively targeting dark spots, uneven textures, and dullness. Lastly, the Hydration Kit, priced at P1,227, strengthens the skin barrier with its Ceramide cream. It also soothes the skin with its Aloe + Snail toner and helps with moisture layering with the HA + Snail serum. This is a gift perfect for hydrating the skin.
lung function tests, while cardiologists often begin with a 2D echocardiogram,” said Dr. Prieto. “But both are essential.” To confirm PAH, doctors must systematically rule out other PH groups, especially left-heart disease, the most common cause of pulmonary hypertension worldwide. “The gold standard is right heart catheterization,” Dr. Prieto emphasized. “A normal pulmonary capillary wedge pressure confirms that the condition is not driven by the left heart.” Unfortunately, diagnosis is often delayed. “On average, it can take up to two years from symptom onset,” said Dr. Prieto. “But with a high index of suspicion and coordinated testing, diagnosis can be completed within a month.” Meanwhile, Dr. Tubig echoed the need for vigilance, especially among women without obvious risk factors. “Clinicians must carefully assess both sides of the heart. This demographic is often overlooked during initial screenings.”
Treatment, access, and hope TREATMENT for PH depends on its underlying cause. Group 1 PAH requires lifelong maintenance therapy using highly specialized medications designed to relax the pulmonary arteries. Other PH groups are managed by treating the underlying condition, while some cases, such as chronic thromboembolic PH, may be surgically treated. Despite advances in diagnosis and care, access to the full range of PAH-specific therapies remains a challenge in the Philippines. At present, some of the treatment options needed for long-term PAH management are stil l accessed abroad, adding a significant burden for Filipino patients and their families. This reality underscores the importance of early detection, appropriate referral, and coordinated care within specialized centers. Dr. Prieto and Dr. Tubig strongly urge individuals not to ignore persistent breathlessness. “The primary reason for treating PH is to allow
patients to return to a normal life, to move, work, enjoy their family, and breathe without fear,” said Dr. Tubig. “Early consultation is the best way to prevent the disease from progressing to severe, life-threatening stages.”
PHC’s pulmonary hypertension clinic THE Philippine Heart Center serves as the country’s Center of Excellence for PH and PAH, with its Pulmonary Hypertension Clinic operating for over a decade. The clinic functions as a national referral hub, bringing together cardiologists, pulmonologists, and other specialists to manage complex cases. Both charity and private patients receive the same standard of care, supported by assistance programs that improve access to diagnostics and life-saving treatments. For inquiries, patients may contact the Philippine Heart Center Pulmonary Hypertension Clinic at (02) 8925-2401.
Institution expands assistance to cancer patients, their families By Claudeth Mocon-Ciriaco
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OR many Filipino cancer patients, the journey to treatment is often as challenging as the disease itself— facing high treatment costs, and limited access to critical therapies that can delay life-saving processes. Aside from the physical and emotional toll, these challenges weigh heavily not only on patients but also on their families. Recognizing these challenges and aligning with various strong government programs, Detoxicare Philippines, Inc. has expanded its K A AGAPAY Medical Assistance Program nationwide. KAAGAPAY is a patient navigation system designed to help every patient access timely treatment and governmentsupported assistance, regardless of financial capacity.
Financial assistance INITIALLY developed to strengthen access to oncology treatment, KAAGAPAY now directly assists financially challenged cancer patients in securing medical support from government-funded programs for their prescribed therapies. According to Dr. GJay L. Ordinal, President and CEO of Detoxicare Philippines Inc., KAAGAPAY’s trained Patient Access Navigators
guide patients through the entire process, beginning with the acquisition of physician-issued documents—medical prescriptions, abstracts, treatment protocols, and diagnostic requests—to ensure strict alignment with clinical orders. They assist patients in understanding the requirements and processes for applying to financial assistance programs offered by agencies such as the Philippine Charity Sweepstakes Office (PCSO), the Department of Social Welfare and Development (DSWD), the Department of Health’s Medical Assistance to Indigent and Financially Incapacitated Patients (MAIFIP) Program, and the Office of the President (OP).
Navigators ONCE the request for assistance is approved, the navigators continue to coordinate with the patient and the healthcare team to ensure that all documents are properly submitted and that the approved assistance is properly applied, allowing treatments to proceed in a timely manner. “Healthcare access should never be determined by a patient’s financial capacity. Our mission is to reinforce the efforts of healthcare professionals by ensuring that their patients receive timely and uninterrupted care,” Dr. Ordinal said. “KAAGAPAY represents our enduring commitment to stand be-
side every clinician, every patient, and every family entrusted to our healthcare system. In strengthening KAAGAPAY, we are affirming our responsibility to the Filipino patient,” Dr. Ordinal added.
Support for cancer patients BEYOND oncology, KAAGAPAY now provides support for patients needing assistance with chemotherapy and targeted therapy; diagnostic and molecular laboratory procedures; maintenance medications for chronic diseases; medical implants and assistive devices; and other medically necessary therapeutic interventions prescribed by attending physicians. T he K A AGA PAY Prog ram is strengthened by Detoxicare’s integrated healthcare network, which includes quality-assured medicines for oncology and chronic disease management, molecular diagnostics through the Detoxicare Molecular Diagnostics Laboratory, advanced PET/CT imaging services via Prime Health Imaging Centers (Shaw & Quezon City), and medicine fulfillment and service hubs across National Capital Region and regional Luzon. “This integrated system allows for smoother navigation of the patient journey—from diagnosis to treatment to monitoring—helping clinicians manage cost-sensitive cases more effectively,” Dr. Ordinal stressed.
Gov’t told to clean up act in spending health budget By Rizal Raoul S. Reyes Contributor
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N the span of a single decade, the Philippines has undergone a seismic shift in fiscal priority. For example, national health spending crossed the P1 trillion mark in 2021 and health spending is expected to reach P1.4 trillion in 2024. In a recent forum organized by government think tank Philippine Institute for Development Studies (PIDS), the upswing in funding is being ravaged by a fragmented system, resulting in derailing the objectives of the Universal Health Care (UHC). Blame the country’s decentralized sector as the root cause of the country’s health sector problem, according to PIDS. According to PIDS Senior Research Fellow Dr. Valerie Gilbert Ulep, the huge influx of government spending is being funneled into a system where Local Government Units (LGUs) have varying priorities and technical capacities. This creates a “postcode lottery” for health where the chance of receiving quality primary care depends less on your need and more on the fiscal health of your municipality.
Tumultuous financial landscape
HE described the financing landscape as “tumultuous.” With funds trickling in
from LGU budgets, PhilHealth reimbursements, and national grants, the lack of a unified “pooled” funding mechanism leads to massive inefficiencies. Instead of a seamless safety net, the Philippines has a patchwork quilt of resources that often overlap or leave gaping holes in coverage. Despite the trillions spent, the physical and human backbone of the system is brittle. PIDS Research Specialist Therese Jules Tomas highlighted that hospital bed capacity is failing to keep pace with population growth. While the Health Facilities Enhancement Program (HFEP) has existed since 2008, many facilities remain “empty shells” or buildings without the necessary equipment or staff to function. The human cost is even more striking. Louie Iyar Dagoy noted that only three percent of the national workforce consists of health professionals, and more than half of them are concentrated in the private sector. In impoverished areas, the ratio of doctors to patients is abysmally low. Public-sector physicians, though earning higher salaries than in the past, are overwhelmed by crushing workloads, leading to burnout and a continued “brain drain.”
Dark data
MODERNIZING the system is further obstructed by “dark” data. Jomelle Wong pointed out that while money is being spent on Health Information Systems
(HIS), the technical units within the Department of Health (DOH) are actually shrinking. Many facilities remain trapped in paper-based workflows, unable to coordinate care or track patient outcomes effectively. Furthermore, systemic corruption remains a “cancer” on the budget. Kenneth Isaiah Ibasco Abante of the WeSolve Foundation stressed that without civil society oversight to track where these trillions actually go, progress will remain stagnant. The consensus from experts like Dr. Maria Rosario Singh-Vergeire and Dr. Manuel Dayrit is clear: the Philippines does not just need more money; it needs a more coherent system. This involves: Strategic Purchasing: Shifting toward pooled funding to increase bargaining power. Infrastructure Alignment: Ensuring buildings are matched with the staff and equipment needed to run them. Unified Information: Moving beyond “handing out computers” to creating an interoperable digital health ecosystem. As DOH Director Johanna Banzon reminded stakeholders, behind every statistic is a Filipino family forced to make a life-or-death financial decision. To bridge the gap, the P1.4 trillion must be transformed from a budget line item into a responsive, equitable reality for every citizen.
BusinessMirror
Editor: Tet Andolong
Wednesday-Friday, December 24-26, 2025 B2-3
Drowning in debt and water D
By Rizal Raoul S. Reyes
A sin of omission
@brownindio
ESPITE a massive P1.2 trillion investment in flood control over the last decade, the country’s cities remain as vulnerable as ever. “This astronomical sum—shouldered by the sweat of the Filipino workforce—is being poured into a 'grey' engineering vacuum. By prioritizing dikes and dredging over the restoration of our 18 major river basins, the government is effectively building expensive gutters for a house with a collapsing roof. We are not just mismanaging water; we are hemorrhaging the nation’s wealth,” said Elmer Mercado, Senior Climate Resilience, Environmental Sustainability/ Safeguards and Land Governance Consultant in his Linkedin post. Mercado described the current strategy of the government as reliant almost exclusively on “grey” infrastructure—protective dikes, riverbank walls, and endless dredging. While these projects are lucrative for contractors and provide immediate "ribbon-cutting" optics for politicians, he stressed they often exacerbate the problem. Without a healthy upland watershed to absorb rainfall, Mercado said these concrete structures merely act as high-speed chutes. Moreover, he stressed these structures play an im-
portant role because these structures accelerate the velocity of water, flushing it downward into low-lying catch basins with even greater force. “We are essentially building expensive gutters for a roof that has no shingles,” he said.
The Paper Giants: Ghost Masterplans
MERCADO emphasized the root cause of the flood tragedy is not a lack of planning, but a lack of political will. The DENR’s River Basin Management Office (RBMO) has spent the last decade developing comprehensive 10-to-15year masterplans for the country’s 18 major river basins. These plans were funded by the national budget and international donors, and they hold the “blueprints” for integrated flood management. Mercado said there is not a shortage of masterplans, but are currently gathering dust. While the concerned parties call for reforestation, soil conservation, and upland management, he lamened the budget allocations tell a different story as the Department of
FELINO PALAFOX, JR
ELMER MERCADO
Public Works and Highways have been allocated huge sums for “hard engineering projects. Meanwhile, “soft” green infrastructure receive a pittance even though they are important components to make the hard ones work.
for updating these decades-old plans to account for the heightened realities of climate change,” he said.
Distraction by design
HE bewailed that the current legislative inquiries often devolve into spectacles for social media feeds. While investigating the “nepotism kids” or the “luxury cars” of contractors is necessary for accountability, Mercado said it serves as a convenient distraction from a deeper systemic failure. The conversation rarely touches on the GAA (General Appropriations Act) and why it ignores the Riverside Basin Management Office (RBMO) masterplans. “Furthermore, as we look toward the 2026 National Expenditures Program (NEP), the silence is deafening. There is little to no budget allocated
A crisis of governance, not resources
THE Philippines is often described as a nation of superior planners but poor implementors. As evidenced by the trillion-peso allocations, he said the country has the data, the maps, and certainly the money. “What we lack is a governance system that prioritizes long-term ecological stability over short-term political cycles,” Mercado said. “We scream about corruption and the height of floodwaters, yet we remain silent on the non-implementation of the very plans designed to save us. If we continue to fund dikes while ignoring the bald mountains above them, we aren't investing in flood control—we are merely subsidizing a trillion-peso sieve,” Mercado explained.
FLOODS are not acts of God but a sin of omission of men and women running the country, according to a leading Filipino urban planner and architect. “The solutions are there. After the floods of I think 1972, there was a project called Metroplan funded by the World Bank, I was a team leader and senior planner. Project Officer for the UNDP funded Manila Bay Region Strategic Plan which was not fully implemented, says Palafox and Associates head Felino Palafox Jr in a recent television interview. Palafox warns that in a do-nothing scenario that the country will have more catastrophic flooding, traffic, and garbage problems. “We said that when I was 25 years old. I'm already 75 years old,” Palafox laments. The solutions are there, but not yet implemented, according to Palafox. Being situated in a region within the Pacific Ring of Fire primarily calls for vigilance in Disaster Preparedness. Palafox said protection of life and the enhancement of the built environment are the foremost responsibilities of architects, urban planners, and engineers. In its stand of pushing its accountability towards Nature, God, and Country, Palafox Associates prepared a brief list of recommendations on urban planning, architecture, and engineering to address hazards towards safer cities, towns, and communities. In the midst of several disasters and emergencies, he said awareness must be given due priority.
Developers and designers of tomorrow’s cities triumph at the 20th PropertyGuru Asia Property Awards Grand Final
CULMINATION OF THE 2025 PROPERTYGURU ASIA PROPERTY AWARDS SERIES DISTINGUISHES THE BEST IN ASIA WITH OVER 90 MARKS OF EXCELLENCE
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ANGKOK, Thailand—The 20th edition of the PropertyGuru Asia Property Awards series has culminated in spectacular style at its Grand Final, distinguishing sublime real estate achievements across the region. After a landmark journey through 13 property markets, the 2025 PropertyGuru Asia Property Awards Grand Final set apart Asia’s outstanding developers, developments, and designs in ceremonies today at The Athenee Hotel, a Luxury Collection Hotel, Bangkok. Commemorating 20 years of recognising achievements in real estate, the PropertyGuru Asia Property Awards Grand Final featured over 90 categories celebrating the “Best in Asia,” in line with PropertyGuru’s vision of powering communities to live, work, and thrive in tomorrow’s cities. Finalists were chosen from the PropertyGuru Asia Property Awards’ series of galas and events across the region. Henderson Land Development Company Limited from Hong Kong brought home the prestigious golden statuette of Best Developer (Asia). The Legacy - 8 Castle Road, Mid Levels, Henderson Land Development Company Limited’s ultra-luxurious joint venture with leading developer New World Development Company Limited, achieved a double victory in the development and design categories. One Central Macau Revamp by Properties Sub F, Limited, a joint venture of Hongkong Land Group and Shun Tak Development Limited, also won and represented the Chinese special administrative regions. Design innovation from Mainland China was prominently recognised this year, with wins for top design practices Benoy, CAN Design, J&A Design, and Lead8. With a total of 17 Best in Asia titles, Malaysia was the top-performing country at the 2025 PropertyGuru Asia Property Awards Grand Final. JLand Group emerged victorious as Best Industrial Developer (Asia), winning for its township development Bandar Dato’ Onn. MTD Properties and Faire Development were named Best Affordable Residential Developer (Asia) and Best Breakthrough Developer (Asia), respectively. Malaysia’s honours were spread across diverse developments emphasising connectivity, sustainability, multi-generational flexibility, and premium living experiences. Other winning companies included Armani Group; Astaka Kimlun Sdn Bhd; City Motors Group; Exal (Malaysia) Sdn Bhd; Gunung Impian Development Sdn Bhd; IIB Land Sdn. Bhd.; Malton Berhad; Perbadanan Kemajuan Negeri Selangor (PKNS);
OFFICE MARKET: GROWING AND GROUNDED AS DEMAND STRENGTHENS IN 2025
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HE Philippine office market, year-to-date 2025, is on firmer footing as net take-up improved, vacancies eased, and demand broadened across both IT-BPM and traditional occupiers. Despite global headwinds and evolving workplace trends, the sector sustained its recovery trajectory, with year-to-date office demand reaching 1.22 million sqm, surpassing full-year 2024 levels.
Key Highlights Steady Growth in Office Leasing Demand YEAR-TO-DATE take-up grew to 1.22 million sqm, marking a 10 percent increase from 2024. The ITBPM sector accounted for 32 percent of total volume (549,000 sqm), while other types of tenants, including traditional corporates, government offices, and PIGO, represented 68 percent or 671,000 sqm. Expansion deals dominated activity across both segments.
BGC and Cebu Lead Market Activity BONIFACIO Global City (BGC) emerged as the topperforming district in Metro Manila with 218,000 sqm in transactions, 73 percent higher year-onyear. Quezon City and Ortigas–Mandaluyong followed closely with 169,000 sq m and 155,000 sq m, respectively. Provincial markets remained robust, led by Cebu, which captured 150,000 sq m, or 55 percent of all provincial take-up.
Vacated Spaces Fall Sharply in Q4 VACATED spaces declined by 59 percent quarter-onquarter, dropping from 205,000 sqm in Q3 to just 85,000 sqm in Q4. This was driven largely by reduced downsizing and ongoing consolidation, particularly among IT-BPM firms, which accounted for 221,000 sqm of vacated area year-to-date, primarily from relocations rather than contractions.
Net Take-Up Ends the Year Strong NET take-up improved by 13 percent, reaching 476,000 sq m for 2025—a meaningful rebound from 2024’s 422,000 sq m. Despite elevated vacated space earlier in the year, steady demand and fewer large-scale exits enabled net absorption to stabilize.
BGC and Makati Remain Tight
Platinum Victory; R&F Development Sdn Bhd; Sime Darby Property; and TRX City Sdn Bhd. Indonesia followed closely with 15 wins for developers across the archipelago. Winners demonstrated their prowess in building live-work-play communities, with Paramount Land named Best Township Developer (Asia) and Sinar Mas Land winning for the townships BSD City and Grand Wisata. Sinar Mas Land also scored a joint win with Hongkong Land for Botanic Villa at NavaPark. PT. Putragaya Wahana, hailed Best Commercial Developer (Asia), earned multiple wins for the superblock Thamrin Nine, home to Indonesia’s tallest buildings. Winning projects by Mandiri Land, Masgroup, Summarecon Group, and Triniti Land set high benchmarks for affordable, mid-end, high-end, and ecoconscious living, as well as hospitality. With 14 wins, developers from Vietnam rose as another formidable force at the Grand Final, led by CapitaLand Development (Vietnam), winner of Best Sustainable Developer (Asia) and multiple honours for the projects Orchard Grand, Orchard Mansion, The Fullton, and The Orchard. Gamuda Land Vietnam won Best Community Developer (Asia), reinforced by projects such as Central Park and Springville. Nomura Real Estate Vietnam, awarded Best International Partner Developer (Asia), was additionally recognised for The Komorebi. Projects from Ecopark Founder and KD Investment Joint Stock Company rounded out the elite winners from Vietnam. Singapore developers received 11 wins, including Best Residential Developer (Asia) for UOL Group Limited. Parktown Residence, a venture of CapitaLand Development, UOL Group Limited, and Singapore Land Group Limited, scored three wins while Upperhouse at Orchard Boulevard delivered a joint win for UOL Group Limited and Singapore Land Group Limited. IOI Properties Singapore meanwhile achieved three wins across the projects IOI Central Boulevard Towers and W Residences Marina View. Honours for Allgreen Properties
and The Assembly Place further underscored real estate excellence in the city-state. Developers across the Philippines won 10 Best in Asia titles. Robinsons Land received four titles, including the Best Luxury Developer (Asia) award and wins for The Mall | NUSTAR; The Victor at Bridgetowne; and work.able GBF Center 1. Robinsons Hotels and Resorts was named Best Hospitality Developer (Asia) while RLC Residences, a Robinsons Land subsidiary, won for Sync and The Residences at The Westin Manila. Winning developments from Aboitiz Economic Estates, Aboitiz Land, Inc., and FIESTA Communities Incorporated showcased the Philippines’ impressive progress in industrial development and housing connectivity. Thailand developers earned seven Best in Asia wins, led by Reignwood Group, winner of Best Luxury Mega Township Development (Asia) for Reignwood Park. Thailand’s wins underlined development innovations and architectural excellence throughout the kingdom, exemplified by luxurious homes and coastal residences by AP (Thailand) Public Company Limited, Pruksa Real Estate Public Company Limited, Triya, and Tropical Life Real Estate Co., Ltd. Solidifying Thailand’s stature as a premier retail destination, Lead8 was honoured for its design on Parade at One Bangkok. Supaluck Umpujh, chairwoman of The Mall Group, received the PropertyGuru Icon Award from the editorial team of Property Report by PropertyGuru. The 2017 Thailand Real Estate Personality of the Year returned to the PropertyGuru Asia Property Awards in recognition of her recent iconic achievements in mixed-use and retail development, including the award-winning EM District in Bangkok. Eterno Property Group represented Australia’s enduring cross-border appeal to property seekers with wins for its projects Munro House and The Newlands. Eve Residences by Homecorp was recognised for its impressive views along the Australian coast. From Japan, JY Suites Tsutenkaku by Jean Yip Developments won the Best Affordable
Condo Development (Asia) award while Four Seasons Hotel Osaka by Curiosity won Best Hospitality Interior Design (Asia). Representing Sri Lanka, Home Lands Group of Companies was named Best Lifestyle Developer (Asia) while Pentara Model Apartment by Urbanspace Interiors Pvt Ltd. won Best Condo Interior Design (Asia). From the Middle East, The Chedi Private Residences, Sheikh Zayed Road, Dubai, United Arab Emirates by Chedi Hospitality won Best Branded Residential Development (Asia). Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “We conclude the landmark 20th edition of the PropertyGuru Asia Property Awards series on a highly positive note, echoing industry resilience in over 600 awards across 13 distinct real estate markets that continue to overcome headwinds and capitalise on strategic opportunities in the current cycle. This year’s Best in Asia winners showcase record-setting skyscrapers, largescale townships, transit-oriented developments, premium and affordable homes, flexible spaces, and urban landmarks, designed with ambition for long-term value and guided by environmental and social considerations. We look forward to the new standards of sustainable development that developers in Asia will deliver over the next 20 years.” Thien Duong, chairperson of the Grand Final jury and general director, GroupGSA (Vietnam), said: “The distinguished winners of the 20th PropertyGuru Asia Property Awards Grand Final have expertly answered the regional demand for experiential living, wellness integration, and future-proofed design. From integrated live-work-play communities to ultra-luxurious addresses and immersive sales galleries, the collective momentum is toward more sustainable, people-centric, and technologically adaptive projects. Our awardees demonstrate that exceptional master-planning, architecture, interior design, and landscaping can be achieved at any scale, ultimately driving tenant retention, buyer attraction, and the creation of
civic assets that enrich the urban fabric. Congratulations to the Best in Asia.” The winners were selected by a jury comprising the head judges of participating markets in the Awards: Thien Duong; Ajai A Kapoor, CEO, 360 degrees—Real Estate Services (India); Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc. (Philippines); Doddy A. Tjahjadi, managing director, PTI Architects (Indonesia); Eddie Guillemette, CEO, Midori no Ki (Japan); Datuk Ar. Ezumi Harzani Ismail, president, Malaysian Institute of Architects: 2020-2022 (Malaysia); Ivan Lam , executive director, international business, Charter Keck Cramer (Australia); Ken Ip, chairman, Asia MarTech Society (Mainland China); Dr. Nirmal De Silva, director and CEO, Paramount Realty (Sri Lanka); Paul Tse, president, Macao Association of Building Contractors and Developers (Hong Kong and Macau); Roy Ling, CEO, board director, and adjunct professor, FollowTrade (Singapore); and Suphin Mechuchep, strategic real estate advisor (Thailand). HLB, the global network of independent professional accounting firms and business advisers, upheld the integrity of the awards. Paul Ashburn of HLB International Real Estate Group and Sakanphon Fueangwong of HLB Thailand oversaw the selection process. The PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Sub-Zero & Wolf SEA; official portal partner PropertyGuru; official magazine Property Report by PropertyGuru; media partners Bridges, BusinessWorld, d+a Magazine, Detik.com, Hot Magazine, Inquirer Property, Kompas. com, Kopi and Property, Luxury Society of Asia, Manila Bulletin, Niaga Times, Penang Property Talk, Prop2morrow, REm Thailand, SquareRooms, Tatler Asia Homes, TerraBKK, The Grid, The Malaysia Voice, The Philippine Star, and Top10 of Asia; official courier EZY Express; and official supervisor HLB. For more information, email awards@ propertyguru.com or visit the official website: AsiaPropertyAwards.com.
AS of year-to-date 2025, Metro Manila has an 18 percent overall vacancy rate, with BGC (9 percent) and Makati (15 percent) maintaining the lowest availability. Both districts continue to post lean pipelines, positioning them for faster rental recovery. The nationwide supply pipeline remains manageable at 2.3 million sqm over the next five years, with only 1,900,000 sqm expected to come online across Metro Manila from 2026 onwards.
Market Outlook THE office market is expected to remain on a gradual growth trajectory in 2026, supported by expanding IT-BPM requirements and renewed activity from traditional sectors. Active leasing requirements totaled 350,000 sq m, with 85,000 sqm already under negotiation, signaling continuity of momentum into the new year. While hybrid work remains a structural consideration, occupiers continue to prioritize high-quality, well-located office spaces as part of their long-term workplace strategies.
Industry Insight ”THE Philippine office market continues to demonstrate consistent demand as it closes the year with 1.22 million square meters, a milestone achieved by only a handful of markets globally. This performance underscores the sector’s enduring relevance despite ongoing global headwinds, geopolitical uncertainty, and economic volatility. The industry’s ability to adapt has been central to its recovery. Occupiers are embracing flexible strategies, consolidations, flight-to-value opportunities, and long-term growth planning, while landlords are responding with improved terms, more efficient spaces, and investments in sustainability and smart-building features. Looking ahead to 2025, we remain optimistic. Early indicators point to sustained growth driven by IT-BPM expansions, the continued rise of Global Capability Centers (GCCs), and activity from traditional occupiers. While challenges persist, the Philippine office sector has repeatedly proven its resilience, and all signs suggest that the momentum will continue into the coming year.” — Mikko Barranda, Director for Commercial Leasing at Leechiu Property Consultants
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Wednesday-Friday, December 24-26, 2025
Deadline of Transferring PhilHealth YAKAP Clinic is December 26 at PhilHealth Offices
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he Philippine Health Insurance Corporation (PhilHealth) reminds all members who wish to transfer their PhilHealth YAKAP Clinic that they may visit any PhilHealth Local Health Insurance Office (LHIO) until Friday, December 26, 2025. This ensures uninterrupted access to benefits under the PhilHealth YAKAP Program.
Members or their dependents may transfer to a different YAKAP Clinic, whether or not a First Patient Encounter (PFE) has already taken place. They must go to the nearest LHIO, submit a completed Primary Care Selection Form (PCSF), and undergo verification through the PhilHealth Check Utility (PCU). PhilHealth will notify members by email regarding the transfer details,
which will take effect upon approval starting January 1, 2026. The PhilHealth Action Center at (02) 866-225-88 will also accept transfer requests until December 31, 2025. PhilHealth allows requests for transfer on behalf of the member, provided the representative presents an authorization letter, one valid government-issued ID (or acceptable alternative documents), and a duly accomplished PhilHealth Member Registration Form (PMRF) or PhilHealth Claim Form (PCF), as applicable. PhilHealth reminds members that those who have not yet completed their FPE may request a transfer at any time. Once approved, the transfer takes effect immediately. For members who have already availed of their FPE, transfer requests are allowed only during the fourth quarter of the year (October to December). Members may view the directory of
YAKAP Clinics at www.philhealth.gov. ph to view facilities near their location to guide their selection. The list is constantly updated to include newly accredited YAKAP Clinics and updated contact details. PhilHealth President and CEO, Dr. Edwin M. Mercado emphasized, “This is the directive of President Ferdinand R. Marcos Jr. and that is to make primary care benefits accessible to all Filipinos. Each member has the freedom to choose a YAKAP Clinic to ensure easier access to the PhilHealth YAKAP benefits. It may be close to their home or work to ensure the well-being and health of the entire family,” he said. PhilHealth YAKAP offers free health services, including regular check-ups, laboratory tests, cancer screenings and medicines under PhilHealth GAMOT (Guaranteed Accessible Medications for Outpatient Treatment). For further inquiries on benefits and services, members may call PhilHealth’s 24/7 Hotline at (02) 866225-88. They may also reach PhilHealth through mobile numbers: (Smart) 0998-857-2957, 0968865-4670, (Globe) 0917-1275987 or 09171109812.
Gift Ideas that Help You Enjoy the Holidays Without Compromising Health a community event. Activities that combine movement and social connection are a powerful way to encourage consistent physical activity, especially when done together. Harvard Health points out that socializing helps exercise the brain, and stave off loneliness which is associated to heart disease, diabetes, and chronic stress.
Home Gym Starter Set
Help make daily exercise simple and convenient. Resistance bands, a non-slip yoga mat, or jump rope provide effective at-home workouts without the need for a gym membership.
Comfortable Walking Gear
For those who prefer the outdoors, comfortable walking shoes, a sturdy water bottle, or a lightweight belt bag can make regular walks more enjoyable and easier to sustain.
Preventive Medical Check-up
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HE Christmas season is full of festive feats, family gatherings, and well-deserved indulgence. While it’s a time to celebrate, it’s easy to put aside health routines. This year, Anlene encourages Filipinos to embrace balance by enjoying the holidays to the fullest while still caring for your health. One way to do this? Thoughtful gifts that help your loved ones enjoy the season while staying active, nourished, and strong. Here are five thoughtful gift ideas that make it easy to do just that.
New Shared Hobby
Sign up for a dance class, try a trending sport, or join
From full executive checkups to preventive screening such as basic bone scans, understanding one’s health status empowers loved ones to take action early. After all, prevention is always better than cure.
Nutritious Food Support
Having strong bones, joints, and muscles helps you enjoy the holiday festivities and have a healthier start to 2026. It is essential to consume food products that are rich in calcium, protein, and essential micronutrients. Thoughtful options include a homecooked dish, grocery bundles, or specialized nutritional products like adult milk. Anlene is clinically proven to help strengthen bones, joints, and muscles. Drink a glass two times a day or even try integrating it into
your holiday menu. Check out Anlene on Tiktok Shop, Lazada and Shopee for exclusive deals and discounts.
Your Health Is the Gift That Lasts Beyond the Holidays
Holiday indulgence does not have to come at the cost of long-term health. Six out of ten Filipinos, some as young as 24, are at risk of osteoporosis or osteopenia—a silent bone health issue that can make you more prone to fractures and affect your quality of life. To address this, Anlene Philippines, in partnership with the Osteoporosis Society of the Philippines Foundation Inc., is inviting everyone to join the Kilos Lagi movement for long-term bone, joint, and muscle health. Move whenever and wherever possible and support an active lifestyle with nutrient-rich foods such as meat, fruits, vegetables, and adult milk like Anlene to help meet daily nutritional needs. “The great thing about the concept of Kilos Lagi is that anyone can start it at any time. It’s the first step to maintain strong bones, joints, and muscles at any age,” explains Jasmin Magsajo, Sales and Marketing Director of Fonterra Brands Philippines Inc., the local distributor of Anlene. “This is why we’re also amplifying efforts to provide free bone scans across the country to reduce the number of people at risk of osteoporosis.” Want to know the status of your bone health? Get FREE bone scan today--message Anlene Philippines on Facebook or visit https://www.anlene.com/ph/en/ move-check to know the nearest location and latest schedules of bone scan activations. Learn more about the Kilos Lagi movement and stay updated on how to support bone-joint-muscle health by also following them on TikTok, and Instagram.
Novotel Manila Rings in the Holidays with Exclusive Offers
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OVOTEL Manila Araneta City transforms the holiday season into a tapestry of cherished moments, building on a decade of shared stories, joyful gatherings, and time-honored festive traditions. This year, the hotel invites families, friends, and loved ones to experience a thoughtfully curated holiday escape, where warmth, comfort, and togetherness define every stay. Guests seeking a holiday getaway can enjoy the Cozy Stays, Merry Nights Holiday Staycation Package, available for booking until January 10, 2026. Stays are available on December 25 to 30, 2025, and January 1 to 11, 2026, with rates starting at P5,988 nett per night and peak dates, December 24 and 31, 2025 with rates starting at P6,688 nett per night. The package includes a breakfast buffet for two adults and two children aged 15 years and below at Food Exchange Manila, complimentary one-time access to Kids Club for two children per day, early check-in at 10 am and late check-out at 2 pm, and Premier Lounge access for Executive Room and Suite bookings. For a truly special night, the Stay The Night, Feel The Cheer, Christmas Eve Staycation Package is available until December 24, 2025, with rates starting at P12,888 nett per night. The package includes breakfast for two adults and two children, Christmas Eve dinner for two adults, Premier Lounge access for Executive Room and Suite guests, a 10 percent discount on all F&B outlets excluding In-Room Dining, a complimentary extra bed, one-hour daily play at Kids Club, and a welcome gift. Countdown Comfort, a New Year’s Eve Staycation Package offers a spectacular start to 2026, available for booking until December 31, 2025, with rates starting at P15,888 nett per night. Guests can enjoy breakfast and New Year’s Eve dinner for two adults, Premier Lounge access for Executive Room and Suite bookings, a 10 percent discount on all F&B outlets excluding
In-Room Dining, a complimentary extra bed, Kids Club access, a welcome gift, and access to the New Year’s Eve Countdown Party at the Monet Grand Ballroom. For longer celebrations, the Two-Night Holiday Cheer Package offers stays from December 22, 2025, to January 2, 2026, with rates starting at P5,688 nett per night. This package requires a minimum two-night stay and includes breakfast for two adults and two children as well as Premier Lounge access for Executive Room and Suite bookings. Festive culinary experiences are at the heart of Novotel Manila this season. Food Exchange Manila presents the Holiday Exchange featuring Sunday lunch buffets, Christmas Eve and Day lunch and dinner, and New Year’s Eve and Day meals. Rates start at P1,388 nett per adult. Guests can also savor well-loved Filipino holiday favorites at Gourmet Bar by Novotel, available until January 15, 2026, with each item priced at P399 nett. The festive selection includes Bibingka (six pieces), featuring soft, golden rice cakes baked to perfection and topped with salted egg, cheese, butter, and tender strips of young coconut; Puto Bumbong (four pieces), the iconic purple rice delicacy steamed in bamboo tubes and finished with butter, brown sugar, and coconut; and comforting cups of Tsokolate Batirol, from the indulgent Choc Nut Batirol, blending rich chocolate and peanuts, to the classic Tsokolate Batirol, made from traditional tablea for a thick, velvety hot chocolate experience. For gifting and festive treats, Indulge Gelato & Boulangerie presents a thoughtfully curated selection of Season’s Timeless Treats featuring holiday hampers, artisan chocolates, limited-edition wines, and seasonal dessert creations, perfect for sharing or celebrating at home. Hamper A (P3,499 nett) offers a generous assortment featuring Auro Chocolates set of three; a bottle of Solandia Wine (Montepulciano red or Chardonnay white); festive cookies,
assorted cookies, Kevin Ong’s Panettone & Macarons. Hamper B (P1,999 nett) includes Auro Chocolates in the same signature flavors, Solandia Wine (red or white) and festive cookies, ideal for elegant yet simple gifting. For festive parties, The 6th Manila offers Christmas Party Packages starting at P1,999 nett per person up to P2,399 nett per person. Packages include four-hours use of indoor or al fresco dining spaces, lighting and sound setup, and optional three-hour drink-all-you-can packages start at P1,000 nett per person. Raise a glass to the season with Yuletide Libations, festive cocktails crafted for joyful moments at The 6th Manila. Novotel Manila sets the tone for celebration with Yuletide Libations, a festive cocktail collection designed to turn every gathering into a moment worth toasting. Available at The 6th Manila until January 15, 2026, the menu brings seasonal flavors to life, from the nostalgic warmth of Ube-Coco Rum Bumbong, blending rum, coconut juice, and airy ube foam, to the elegant indulgence of White Tanqueray Magic, where gin meets citrus, rose water, and velvety cream, and the vibrant Bombay Sapphire Parol, a bright mix of gin, Campari, and green grapes inspired by holiday lights. Priced at P420 nett per cocktail, each creation is thoughtfully crafted to bring warmth, brightness, and festive flair perfect for lingering sips and holiday toasts at Novotel Manila. The festive season reaches its peak with New Year Disco Grooves, Novotel Manila’s New Year’s Eve Countdown Party, happening on December 31, 2025, from 10 pm to 2 am at the Monet Grand Ballroom. Guests can ring in 2026 surrounded by vibrant music, dazzling entertainment, and a lively atmosphere, complete with delicious food, refreshing drinks, and exciting surprises. Tickets are priced at P2,488 nett per person, with an optional P1,000 nett add-on for three curated drinks, perfect for toasting to new beginnings and creating unforgettable memories with family and friends.
An Exclusive Holiday Showcase Featuring the Hermès Hôtelier Collection
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NEW era of intimate luxury experiences arrives in Manila as The Amenity Studio partners with Conrad Manila to unveil “The Suite Experience,” an exclusive holiday showcase set inside the hotel’s prestigious Presidential Suite. Designed for tastemakers, and discerning guests, The Suite Experience marks the official introduction of the Hermès Hôtelier Collection in the Philippines, curated and distributed by The Amenity Studio. The Amenity Studio, led by entrepreneur Michelle Garcia-Arce, brings to the country an exceptional portfolio of Hermès hotel amenities and fine fragrances. Beyond her leadership of Storytellers PR & Marketing, Michelle’s career foundation includes a notable stint as a hotelier at a five-star Marriott property, a background that shaped her deep understanding of hospitality standards, guest experience, and luxury service. “It feels like coming full circle,” Michelle shares. “Having worked in a five-star hotel early in my career, it’s meaningful to reenter the hospitality space by bringing the Hermès Hôtelier Collection to the Philippines through The Amenity Studio. Our goal is to make refined indulgence more accessible — whether through personal rituals, gifting, or premium hotel partnerships.” The collection includes iconic scents such as Eau d’Orange Verte, Un Jardin Sur Le Nil, and Eau de Citron Noir, as well as hotel-exclusive bath and body essentials crafted with the signature Hermès elegance. The partnership is equally meaningful for Conrad Manila, whose Presidential Suite is being positioned as a preferred venue for intimate lifestyle experiences, private gatherings, and curated events. “Conrad Manila is delighted to collaborate with The Amenity Studio in creating an elevated suite-side showcase,” Joanne Golong-Gomez, Conrad Manila Commercial Director shares. “The event aligns with our vision of offering bespoke spaces where refined hospitality and meaningful moments come together.”
Part of the Hermès Hotelier Collection, Un Jardin sur le Nil offers a refreshing mix of green mango and lotus, lifted by a clean, river-fresh brightness. The Conrad Manila Presidential Suite provides the quintessential setting for The Suite Experience, offering an expansive 1,100 sq. m. of refined living space that balances elegance with comfort. The suite features a master bedroom with walk-in closet and makeup area, a guest bedroom, private study, three luxurious bathrooms, a dining area, and a sculptural bar, and an expansive outdoor patio with a private infinity pool. Floor-toceiling windows frame sweeping views of Manila Bay, while intelligent technology allows seamless control of lighting, temperature, sound, and curtains. Curated Filipino artworks, including metal sculptures by Sam Penaso and paintings by Nestor Vinluan, Jonathan Olazo, and Alain Hablo, enhance the suite’s elegant aesthetic. Every detail is thoughtfully designed, creating an intimate environment ideal for exclusive private events, curated moments of luxury, and refined holiday experiences. To know more about The Amenity Studio, follow @amenitystudioph on Instagram.
Okada Manila is set to welcome 2026 with one of its most spectacular New Year’s Eve celebrations yet, Step Right Up to 2026: New Year’s Eve Countdown.
Okada Manila Sets the Stage for the Biggest New Year’s Eve Celebration
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HE Forbes 5-star destination Okada Manila is set to welcome 2026 with one of its most spectacular New Year’s Eve celebrations yet, bringing together music, entertainment, dining, and dazzling fireworks across the resort. Ring in the New Year at Step Right Up to 2026: New Year’s Eve Countdown, which promises an extraordinary night designed for all revelers, with more than thousands of guests expected across Cove Manila, The Fountain, The Garden, and The Coral Lounge. At Cove Manila, Okada Manila stages its biggest concert of the year with a starstudded lineup for the New Year’s Eve Countdown Concert headlined by Gary Valenciano, with special performances by Yeng Constantino, Randy Santiago, DJ Pretty Dragon, DJ Tom Taus, and DJ Sofia Miguel. Sponsored by Coca-Cola and San Miguel Beer, the event promises nonstop energy as guests celebrate into the early hours of 2026. Doors open at 8 PM, with an electrifying program hosted by Regine Tolentino and MC Smurff. This ticketed event is exclusive to guests aged 18 years old and above. Cove Manila tickets, cabana reservations, and table bookings are now available through Okada Manila Restaurant Reservation at +632 8555 5799 or restaurantreservation@okadamanila.com and via the following authorized ticketing
platforms: SM Tickets, Ticketnet Online, and Ticket2Me. Over at The Fountain, Okada Manila presents a full-scale New Year’s Eve Countdown Celebration featuring performances by Michael Pangilinan, Marko Rudio, and JM Dela Cerna and Marielle Montellano, with host Ana Ramsey. Guests will enjoy live entertainment leading up to a synchronized countdown and the resort’s signature grand fireworks display, best experienced from the resort’s central deck areas, which is open to the public starting 8 pm. The Garden offers a breathtaking view of the midnight fireworks show for families and guests seeking an open-air setting. This public viewing area can accommodate up to 1,200 guests and provides a vibrant space to gather and welcome the new year together under the night sky. For those who prefer a more intimate atmosphere, The Coral Lounge offers entertainment and curated food packages—a fitting choice for guests who want to unwind and enjoy the countdown experience as the evening builds toward midnight. The Coral Lounge New Year’s Eve Countdown is for 21 years old and above only. For more information about Okada Manila its 2026 New Year’s Eve Countdown, visit https://okadamanila.com/deals/stepright-up-2026/ or follow Okada Manila on social media.
Motoring BusinessMirror
Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame
Editor: Tet Andolong • www.businessmirror.com.ph
Wednesday-Friday, December 24-26, 2025 C1
Isuzu Heart and Smile Project Batch 24 graduates; IGSC marks 10th anniversary
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Story & photo by Randy S. Peregrino
T has been 17 years since the Isuzu Heart and Smile Project (IHSP) was established. Together with Isuzu Philippines Corporation (IPC), a meaningful milestone was celebrated with the graduation of Batch 24. Composed of 19 scholars, they have completed the two-year Automotive Servicing Course at the Isuzu-TESDA Auto Mechanic Training Center in Tacloban, Leyte. Each graduate earned a National Certificate IV (NC IV), marking their readiness to enter the automotive workforce as skilled professionals.
The IHSP is a long-running educational aid initiative spearheaded by IPC, in collaboration with Isuzu Motors Limited Japan (IML), the Technical Education and Skills Development Authority (TESDA), and World Vision Philippines. Together, these partners have built a program that not only equips underprivileged youth with technical skills but also opens doors to sustainable employment and personal growth. Since its inception in 2008, IHSP has provided holistic automotive education to over 455 underprivileged youths. The program is designed to support those with limited access to formal training, offering not just technical instruction but also opportunities for sustainable employment. The curriculum blends TESDA’s standard automotive servicing training with specialized modules on Isuzu diesel technology, equipping scholars with both foundational and brand-specific skills to meet real-world industry demands. The program’s impact is reflected in its strong employment rate of 95%, with 68% of graduates employed locally, 24% overseas, and 3% self-employed. IHSP alumni have gone on to work in top
global markets, including Japan, Australia, Saudi Arabia, the UAE, Qatar, and the United States, contributing to the industry with skills honed through the program. As Batch 24 prepares to enter the workforce, IHSP continues its mission by welcoming Batch 28—18 new scholars who will train until 2027. To set an example, current students from Batches 25 to 27 conducted a Skills Demonstration, showcasing the technical expertise and professionalism they have acquired. During the ceremony, several graduates were also recognized for their outstanding performance, reinforcing the program’s commitment to excellence and continuous growth. As IPC celebrates 17 years of IHSP, the company remains steadfast in its role as “Your Responsible Partner”— committed to empowering communities, nurturing talent, and driving futures forward.
A decade of developing world-class Isuzu Truck Service specialists MEANWHILE, Isuzu Global Service Corporation (IGSC), one of the training and technical human
Mad dash to the finish line; Changan charge
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E are still short of approximately 80,000 vehicles before we could hit the half-a-million target of total sales for the fast-fading year. Figures as we approach 2026 showed the industry selling 420,776 units from January to November, according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). In a joint statement, CAMPI and TMA said the present sales data reflect the sector’s “continued
resilience and adaptability amid evolving market conditions.” Meaning, the industry is surviving despite big strides from “hostile” forces brought about by new technologies, such as the continuing advancement of electrified mobility. Said CAMPI and TMA: “The industry remains on a solid footing, supported by robust commercial vehicle demand and the accelerating shift toward electrified mobility.”
Their statement: “IN November 2025, the industry delivered 37,352 units, reflecting steady market participation as brands continued to roll out new models and yearend promotions. “Commercial vehicles contributed 29,903 units, maintaining their strong market presence, while passenger cars recorded 7,456 units, supported by ongoing demand for fuelefficient
(FROM left) IPC Executive vice president Yasuhiko Oyama, IGSC president Fumihiro Ishii, and IPC president Mikio Tsukui during the IGSC 10th anniversary celebration. ISUZU PHILIPPINES
THE IHSP Batch 24 graduates resource development arms of Isuzu Motors Ltd. (IML) in the Philippines, recently celebrated its 10th founding anniversary. Established in 2015 in Bacoor, Cavite, IGSC is a 100 percent subsidiary of Isuzu Motors Ltd. specializing in mechanic production, technical training, service outsourcing, and consulting. It was created with a clear and critical mission: to strengthen Isuzu’s global service operations by developing highly skilled, technically capable, and globally competitive service mechanics specializing in Isuzu commercial vehicles. Over the past decade, IGSC has grown into a leading institution that provides advanced and specialized training programs designed by S-Class Isuzu engineers— programs that directly support both Philippine and global Isuzu dealer operations. According to the IGSC Mission statement, the organization develops Filipino engineers “who have mastered Isuzu’s unique skills and will contribute to a variety of manufacturer service operations,” utilizing English as their global advantage. The creation of IGSC is deeply rooted in Isuzu’s long-standing advocacy of education and empowerment through the Isuzu
Heart and Smile Project (IHSP) in Tacloban. Graduates of IHSP who wish to pursue a deeper specialization in truck servicing are allowed to apply to IGSC’s highly structured and selective program. Applicants undergo a multi-stage evaluation consisting of written examinations, interviews, and hands-on technical assessments. Those who successfully qualify are offered a comprehensive threeyear employment and training engagement with IGSC. The first seven months focus on intensive in-house technical training, covering the full breadth of Isuzu product knowledge, diagnostics, electrical systems, chassis and engine servicing, and advanced truck maintenance—following IGSC’s structured curriculum of more than 60 training modules and over 1,000 total training hours. After completing the in-house program, trainees enter a twoyear deployment with IGSC partner companies, serving as service mechanics or service trainers and gaining real-world experience essential to their professional growth. Their final three months focus on Nihongo language training, preparing them for possible overseas employment,
particularly in Isuzu dealerships in Japan. Now celebrating its 10th year, IGSC has successfully produced more than 120 trained mechanics, who have been deployed to Isuzu distribution networks worldwide, including Japan, Dubai, and several key markets in Africa. IGSC’s company records highlight a strong and growing list of placements across both domestic and international operations, including Isuzu Motors Metropolitan Area, MSTC (Isuzu Motors Service Training Center in Japan), Isuzu International FZE (IIF) in Dubai, and various Isuzu dealerships throughout the Philippines. These deployments form part of IGSC’s expanding role not only in mechanic production but also in training, new model preparation, service manual development, dealer consulting, and the provision of technical support services to elevate service standards within the ASEAN region and beyond. Reflecting on IGSC’s 10th anniversary, president Fumihiro Ishii emphasized that IGSC’s success has always been rooted in its people—their dedication, passion, and commitment to serving with excellence. “For the past decade, IGSC has grown because
we never stopped believing in the power and potential of people. Our mechanics, trainers, and partners embody the Isuzu Spirit—reliable, dedicated, and always striving to grow. Through these initiatives, IGSC remains a testament to Isuzu’s belief in Filipino potential and its long-term commitment to human resource development as a cornerstone of Isuzu’s global success. As we enter our next decade, we will continue developing future leaders, empowering more Filipino talent, and strengthening IGSC as a bridge between countries, generations, and aspirations.” As IGSC enters its next decade, the organization is poised to strengthen its human resource development initiatives further. Plans include enhancing overseas secondment programs, expanding technical and consulting support to global markets, developing more advanced training content for emerging Isuzu technologies, and continuing to produce highly skilled service personnel who play a vital role in the growth of Isuzu’s global service network. Through its work, IGSC stands as a testament to Isuzu’s belief in Filipino talent and its commitment to advancing skills development as a core pillar of Isuzu’s global strategy.
and entrylevel models. “Electrified vehicles (xEVs)* continue to be one of the most dynamic growth areas in the market. “Yeartodate sales reached 28,102 units, representing 6.68 percent of the total industry—a clear sign of rising consumer interest in cleaner and more efficient mobility options. “In November alone, xEV sales climbed to 3,837 units, accounting for 10.27 percent of monthly sales. Hybrid Electric Vehicles [HEVs] led the segment with 22,027 units, while Battery Electric Vehicles [BEVs] and PlugIn Hybrid Electric Vehicles [PHEVs] posted strong performances with 4,261 and 1,814 units, respectively. “Notably, PHEVs surged by 216.0 percent monthonmonth, reflecting growing acceptance of advanced electrified technologies. “The Chambers reaffirm their commitment to working closely with government and private sector partners to sustain market growth, strengthen consumer confidence and accelerate the adoption of innovative and energyefficient vehicle technologies. “Market leadership remains strong, with Toyota commanding
a 48.85-percent market share, followed by Mitsubishi 18.83 percent, Ford 4.75 percent, Suzuki 4.75 percent and Nissan 4.57 percent round to out the Top five, reflecting a healthy and competitive landscape.” Go for it, fellas!
verification system to subject vehicles to over 5 million kilometers of testing—guaranteeing a lifespan of 10 years or 260,000 kilometers. “Moving beyond physical defense, SDA Intelligence introduces a holistic safety ecosystem that secures both passengers and their data, ensuring a ‘Safe Journey Home’ in every dimension.
actively developing humanoid robots for 2028.
Changan milestone CHINA Changan Automobile Group celebrated a historic achievement this December, rolling off its 30 millionth vehicle. “Changan remains committed to delivering smarter, greener and more fulfilling mobility, meeting the aspirations of global users for a better future,” said Zhu Huarong, Chairman of China Changan Automobile Group. From Arianne Colene Jalalon: “Safety is Changan’s top priority, a commitment dating back to 1999 with China’s first minivan crash test. Since then, the company has advanced its protective capabilities from passive safety structures to today’s active safety interventions. “Backed by the industry’s only State Key Laboratory of Intelligent Vehicle Safety Technology, Changan uses its proprietary CA-ITVS
Tech-Driven “DRIVEN by its ‘Green and Intelligent’ strategies, Changan is bringing tangible innovations to market. The Green Plan targets electrification, battery safety and new energy vehicle ecosystems, while the Intelligent Plan advances vehicle intelligence, autonomous systems and connectivity. “Key breakthroughs include the Golden Shield Battery system for superior safety, and the highfrequency pulse heating for coldweather efficiency. “Looking ahead to 2030, Changan has unveiled a visionary roadmap to rank among the world’s Top 10 automotive brands with annual sales of 5 million units. In parallel, the company is expanding the boundaries of mobility by
Changan in PHL “IN the Philippines, Changan is exclusively distributed by Inchcape Philippines, a leading global automotive distributor, with extensive expertise in local luxury automotive operations. “To-date, Changan Philippines offers 11 feature-packed and competitively priced vehicles. “Early this year, Changan Philippines had the pleasure of successfully introducing four models under the electric vehicle Nevo lineup. These are the Lumin, A05, Q05, and Hunter K50. With their forward-thinking features, the Changan Nevo EVs sport the longest comprehensive range in their respective classes. “Aside from its electric vehicles, Changan Philippines boasts of classy models Alsvin, CS15, CS35 Plus, CS55 Plus, X7 Plus, Uni-T and Uni-K. All are available in the local market.” PEE STOP Merry Christmas! Happy birthday to both MJ Llanes of San Miguel Corp. and Donna G. Fernandez of Esting’s Flower Shop! Cheers!
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Oscar contender ‘The Secret Agent’ capitalizes on the rise of Brazilian cinema film—and the public’s engagement with Brazilian artists—has made him “incredibly happy.” “No country develops without culture, without identity,” he said. “You’re watching a Brazilian film, seeing a part of Brazil and its history. That matters.” Set in 1977, at the height of Brazil’s dictatorship, The Secret Agent opens with a black-and-white montage of the era’s national symbols, from movie classics to hit soap operas. Mendonça Filho anchors the story in a precise time and place: Carnival in Recife, the filmmaker’s hometown in northeastern Brazil. As the center of his cinematic universe, the city is the set for confronting a country that still struggles to reckon with its past. “We’ve all consumed incredible things from so many places—from Akira Kurosawa in Japan to Elvis Presley in the American South,” Mendonça Filho said. “I am Brazilian, and my film is Brazilian. If it’s good, it will be universal.”
HISTORY UNFOLDS IN REAL TIME
WAGNER MOURA stars in The Secret Agent, which is heavily touted figure prominently in the upcoming Oscars.
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BY GABRIELA SÁ PESSOA The Associated Press
AO PAULO—The Secret Agent, a Brazilian feature shortlisted for the Oscars, is all about ordinary people. It follows an unassuming scientist and widowed father who becomes a target of Brazil’s military dictatorship in the 1970s— not because he is an activist or revolutionary, but because he stands up to a business owner with ties to the regime. “He’s in danger simply for being who he is, for holding the values he holds,” star Wagner Moura told The Associated Press in a recent interview. “That’s how authoritarianism works everywhere.” Directed by Kleber Mendonça Filho, The Secret Agent has been hailed by critics as one of the year’s best films and arrives amid a renewed international interest in Brazilian cinema. Expanding in US theaters on Friday, the film is backed by major wins at the Cannes Film Festival for both Mendonça Filho (best director) and Moura (best actor). Earlier this month, the 2 1/2-hour thriller earned Golden Globe nominations for best drama, best non-English film and best actor in a drama. And it is on the shortlist for best international feature film at the 2026 Academy Awards.
OF IDENTITY AND MEMORY
THE Secret Agent arrives at a strong moment for Brazilian cinema following the success of I’m Still Here, which won this year’s Oscar for best international feature and a Golden Globe for lead actor Fernanda Torres. In Brazil, expectations for The Secret Agent are high. Moura said the widespread enthusiasm around the
LIVING undercover and under the alias Marcelo, Armando spends his days scouring archives for clues about his mother’s past and planning to flee the country with his young son. As his quiet quest unfolds, the streets outside explode with Carnival revelry—a festival so embedded in Brazilian life that even the police chief appears rumpled from the celebrations, confetti still clinging to his hair. Mendonça Filho blends political suspense with urban legends from the period, touching on themes that extend beyond the dictatorship itself, including corruption, state violence and institutional complicity. One pivotal sequence unfolds inside a movie theater, a nod to the director’s lifelong cinephilia. As fictional audiences spill out of screenings of Jaws and The Omen, shaken by fictional threats, the country itself is living under real terror. Over the past decade, Brazilian cinema has increasingly revisited the military dictatorship, which ruled from 1964 to 1985. Alongside The Secret Agent and I’m Still Here, filmmakers have returned to the period in works, such as Marighella, directed by Moura, about the legendary guerrilla leader who took up arms against the regime. Many of these films were made or released in the past decade, amid the rise of Brazil’s far right. Its most prominent figure was former President Jair Bolsonaro, a retired army captain who praised officers accused of torture and minimized state crimes committed during the dictatorship. Mendonça Filho is among the filmmakers who have taken on the task of confronting national memory. “The military is a trauma that was never truly examined,” he said. “You can’t just say, ‘Move on, forget it.’ A crust forms over it. The same thing happens to an entire nation.” As The Secret Agent arrived in Brazilian theaters on November 6, history was unfolding in real time. That same month, Bolsonaro was arrested and began serving a 27-year prison sentence for attempting to overturn the 2022 election after losing to President Luiz Inácio Lula da Silva. For the first time, high-ranking military officers were also imprisoned for their role in the attempted coup. “Today, I’m much more optimistic about Brazil as a democracy,” Mendonça Filho said. “For the first time, we’re holding military officers accountable—and sending to prison a president who did nothing but harm the country.”
TODAY’S HOROSCOPE By Eugenia Last
CELEBRITIES BORN ON THIS DAY: Ryan Seacrest, 51; Stephenie Meyer, 52; Ricky Martin, 54; Diedrich Bader, 59. HAPPY BIRTHDAY: Money and mixed emotions will hold you back. Distance yourself from drama and situations that play on your weaknesses. Choose to go the distance and to put your skills, attributes and desires to work for you. Say no to interference and yes to following your heart and dreams. It’s time to put yourself first. Once you are content, you can reach out and help others. Timing and sequence are essential. Your numbers are 6, 13, 22, 28, 34, 46, 48.
ARIES (March 21-April 19): Do the legwork necessary to ensure you aren’t caught off guard by those who try your patience during the festive season. Have plenty of one-liners ready to provide an easy out when cornered by someone critical or annoying. It’s up to you to protect yourself from any fallout that comes your way. Choose kindness over angst. ★★★★
TAURUS (April 20-May 20): Mixed emotions will set in, leading you to question whether what you are donating or dealing with is worthwhile. Travel, visits and gatherings with loved ones you don’t get to see very often will be enlightening and offer insights into your aspirations as you head into the new year. Self-improvement and romance are favored. ★★
PROBLEMATIC HANDLER
THE young star had quite strong fanbases, which wasn’t surprising because she is very beautiful and talented. Suddenly, her strongest fanbases disbanded and this left everyone surprised. Some of her casual fans were dismayed because how does a celebrity make it in this industry without a fanbase. There is nothing wrong with the celebrity. She seems like a nice and hardworking girl. The problem is with her handler, who the fanbase allegedly found difficult to work with. The fanbase reportedly had problems with coordination and this is important because some of them are working or in school and they need to know the celebrity’s schedule ahead of time so they can show up for her when needed. The good news is that the celebrity has other fanbases. Let’s hope that they don’t give up when faced with difficulties because if there is one thing a celebrity needs, it’s devoted fans.
INEFFECTIVE TROLL FARMS
If there’s one social media platform the celebrity and her paid troll farms can’t fully control, it’s the clock app. While they can delete comments and block users on her own posts, they struggle to do the same on content posted by others. After she attended a low-key event, a video uploaded by the organizer quickly drew snide remarks. Some comments were removed, but the harshest ones remain. The trolls’ limited effectiveness has made the celebrity noticeably less active on the platform—she still posts, just far less frequently than on her other accounts. Despite this, she continues paying for positive comments. Public sentiment remains largely negative toward her and what she represents. Her eagerness to return to public activities isn’t driven by money, but by a need for validation.
NEW BEAU?
THE beauty queen was spotted with a new guy recently and people are speculating that he is her boyfriend. The beauty queen is single after a broken engagement with a guy who seems to have commitment issues (this was not the first time that he had gotten out of a long-term relationship). Meanwhile, the beauty queen seems to be ready for marriage. After the break-up, people waited for the beauty queen and the actor to get back together again. While they have remained friends or, at the very least, civil with each other, a reconciliation seems impossible. The beauty queen is wellloved and everyone hopes she will fall in love again. Now that she seems to have met someone new, they’re hoping it will be for keeps.
GROWING UP
WHEN the pretty actress and her handsome actor-boyfriend broke up, many assumed he had cheated, given his history. However, sources say the actress simply realized one day that she was no longer in love. She did not cheat, though she had already developed interest in someone else at the time, with no moves made on either side. The actor remains heartbroken but is gradually moving on. The breakup isn’t surprising, as they became a couple when she was quite young and she matured over time, leading to changes in the relationship. Showbiz observers are now waiting to see if she will confirm a new romance.
GEMINI (May 21-June 20): Review the year gone by, weigh the pros and cons, and establish what to put to rest and what to carry forward. Look at the big picture, but once your vision is clear, take a minimalist approach to how you proceed. The less baggage you carry, the easier it is to focus on how to designate your time appropriately. ★★★★★
CANCER (June 21-July 22): Look for items that are useful, inexpensive and edible as an offering instead of trying to impress someone with bigticket items you cannot afford. It’s the thought that counts, and last-minute shopping can be time-consuming if you don’t have a plan or the cash on hand. Cap your spending; it’s the thought that counts. ★★★
LEO (July 23-Aug. 22): Offering help, money or time is admirable, but don’t let anyone take advantage of your kindness. Pick and choose how and what you do this festive season. Sometimes, the ones you least expect in your proximity are the ones who need the most support. Charity begins at home this year. ★★★
VIRGO (Aug. 23-Sept. 22): Participation is imminent. Attend fundraisers, mix business with pleasure or lift the spirits of someone who is down and out. You can turn a negative into a positive for someone with a kind word, smile or gesture. Observe how others are doing, and be grateful for what you have. ★★★
LIBRA (Sept. 23-Oct. 22): Monitor your feelings, keep situations in perspective, recognize that stress levels and tensions are high, and be forgiving of those who have trouble navigating their way through tough times. Everybody has a story. Don’t judge; show compassion. Manage your consumption to avoid the consequences and regrets that follow, especially when mixing business with pleasure. ★★★★★
SCORPIO (Oct. 23-Nov. 21): Leave yourself plenty of time to get to where you want to go. Traveling at this time of year can be stressful. Preparation and backup plans are essential, along with leaving ample time to make last-minute changes if necessary. Stay calm, and enjoy the moment. ★★
SAGITTARIUS (Nov. 22-Dec. 21): Proceed with patience and good intentions. A gracious attitude and a big smile will help you deter anyone from taking their frustrations out on you. Try to avoid last-minute shopping and crowded places to ensure you can enjoy the festivities happening around you. ★★★★
CAPRICORN (Dec. 22-Jan. 19): Spontaneous purchases or extravagant entertainment will set you back. Be cognizant of what things cost before you get wrapped up in the hype you hear. Discipline and sticking to your original game plan will get you where you want to go at a price you can afford. ★★★
AQUARIUS (Jan. 20-Feb. 18): Jump into action, do your part and make fond memories with the ones you love. Set the stage for a happy, healthy gathering, and maintain the balance and equilibrium everyone needs at this time of year. Put your best foot forward, and the love you get in return will be the best gift ever. ★★★
PISCES (Feb. 19-March 20): You’ve got everything under control. Don’t let consumption be your downfall. It’s tempting to overeat, overspend and overindulge when there is so much merriment going on around you. Be the good Samaritan, the one who looks out for others and offers a helping hand wherever and whenever necessary. Set standards for others to follow. ★★★ BIRTHDAY BABY: You are resourceful, opportunistic and insightful. You are heartfelt and jovial.
‘oh, joy!’ BY ZACHARY EDWARD-BROWN
The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 Cookie ___ (holiday exchange) 5 Sewn edges 9 Alternative to .docx 12 “Yikes!” 13 What’s drawn for some labs 15 Best-of-the-best acronym 17 Water park toy 19 Opera opener 20 Japanese electronics giant 21 Ultimate 23 *Popular search engine’s altered logo 26 Station with shells 29 Like lemons 30 Angels & Demons actor McGregor 31 Bowlers and fedoras 34 Velveeta company 37 Ford or Lincoln, e.g. 38 Certain child care workers...and a phonetic hint to the starred clues’ answers 40 (I’m a cow!) 41 Many-headed monster of myth
43 Sharpen 44 Zesty flavor 45 ___ immunity 47 Capital of Maine 49 Chinese-American stir-fry dish 53 Meant playfully 54 Indian yogurt drink 58 Designer Gucci 59 Toucan Sam’s colorful cereal 62 Demeanor 63 More certain 64 American ___ (TV singing contest) 65 Hosp. areas 66 South Asian garment 67 Fashionably ___ DOWN 1 Soaks (up) 2 “Hold on just a second!” 3 Auth. unknown 4 Triangle or square, e.g. 5 A Christmas Mystery network 6 “Do Ya” grp. 7 Catwalk walker 8 Finish, as a crossword puzzle
9 FedEx Cup organizer 10 Films that are based on true events 11 Deadly 14 Homeowners’ documents 16 Rummikub piece 18 Rookie gamer 22 Cozy corners 24 Island home to “Jurassic Valley” 25 Scatter plot or bar chart 26 STEM part, casually 27 Not at home 28 Person with a lot of credit, maybe 32 Confucian philosophy 33 Egyptian peninsula 35 Futura, for one 36 Roman garment 38 NFL quarterback Rodgers 39 Sign on again 42 Areas 44 Liquid source of essential fatty acids 46 Removes, as a hat 48 Nerve 49 Palindromic address 50 Skateboard trick
51 Spiritual teachers 52 2024 dramedy starring Mikey Madison 55 Fizzy drink 56 Leopard feature 57 ___ of Man 60 Not ‘neath 61 Three-stage race, briefly
Solution to today’s puzzle:
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Christmas traditions we quit (and the ones that quit us) Letting go under the mistletoe CHRISTMAS is often portrayed as a season of joy, laughter and gatherings. However, it can also be a time when old wounds and regrets resurface. You may feel the weight of past mistakes or the sting of unresolved conflicts with family and friends. This year, imagine celebrating a Christmas that does not carry the burden of resentment. Forgiving yourself and others can transform your holiday experience from one of tension to one of true peace. Forgiveness is not always easy, but it is possible when you take it one thoughtful step at a time. To forgive yourself, you must first acknowledge your mistakes without excusing them. You may have said something hurtful to someone close, failed to meet your own expectations, or made a decision that led to regret. Accepting your imperfections does not make you weak. It allows you to recognize that you are human and capable of growth. You can write down your regrets in a journal and read them aloud. This practice helps you confront your emotions rather than bury them. As you do so, remind yourself that holding on to guilt only prolongs your suffering. Picture releasing these feelings like letting go of a balloon. The balloon floats away, leaving your hands free to embrace new experiences. Forgiving others requires a different approach. You may feel angry at someone who hurt you years ago or more recently. You may even think that forgiving them would make you vulnerable. Yet forgiveness is not about condoning the wrong behavior. It is about freeing yourself from the grip of resentment. Start by understanding that the person who caused pain is human and capable of making mistakes. You do not need to reconcile with them if that is not safe or healthy. You can begin by writing a letter to the person that you do not intend to send. Express your feelings honestly, acknowledge the hurt, and then declare your decision to release it. This act allows your heart to let go of bitterness without relying on the other person to change. Practical actions can make forgiveness more tangible during the holiday season. If you feel ready, reach out with a simple gesture of kindness. This could be a short message wishing them well, or offering help without expecting anything in return. If direct contact is not advisable, you can dedicate a quiet moment each day to wish them peace silently. Visualizing warmth and goodwill toward others creates a subtle shift in your emotions, even when circumstances remain complicated. Forgiving yourself and others also involves adjusting your expectations for the season. You may imagine a perfect holiday filled with harmony, yet real life is rarely flawless. Accept that family gatherings can be messy and conversations can stir old memories. When you release the need for perfection, you allow yourself to focus on what is meaningful. You can set small goals for connection and joy rather than trying to fix every problem. Preparing a favorite meal, sharing a story, or simply listening attentively can create moments of warmth that matter far more than idealized traditions. Another helpful method is to create a forgiveness ritual. You can light a candle and state aloud what you are letting go. You may even write names or incidents on paper and safely burn them while visualizing the release of tension. Rituals engage your senses and your mind, giving physical and emotional confirmation that you are moving forward. You can repeat this each year, transforming forgiveness into a meaningful part of your holiday tradition. Remember that forgiveness is a process rather than a single event. You may feel a sense of relief immediately, or you may notice it gradually over days or weeks. Be patient with yourself. Notice the lighter feeling in your chest when old grudges do not dominate your thoughts. Celebrate small victories, such as choosing not to argue when someone tests your patience, or speaking kindly even when you feel wronged. These moments reinforce your capacity to forgive and strengthen your emotional resilience. Ultimately, Christmas is more joyful when the heart is free of guilt and resentment. Forgiving ourselves reminds us that our mistakes do not define our worth, while forgiving others restores peace and opens space for compassion. The holidays invite us to begin again by letting go of grudges and choosing kindness. When forgiveness guides our reflections and interactions, we embrace connection, release the past, and carry a lighter spirit into the year ahead.
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OODNESS! Is that Christmas already knocking, nay, rattling and trying to break down our doors? It’s here, and are we prepared for the worst? OK sure, maybe the best the season can give. I finally finished shopping for gifts for the family, risking life and limb (and sanity!) as I elbowed my way through the crowds in the shopping mall. I had my trusty Christmas list on my phone and a description of gifts that I should get each loved one. But it certainly wasn’t easy, as I tried to keep to a certain budget. The only exemption to this rule is my grandnephew Ponggoy. I can exceed the budget a little, as kids are really what the yuletide season is all about. Besides he’s still in the ooh-ahhing stage of receiving presents; it doesn’t matter what occasion, be it Christmas or his birthday, or just a pasalubong. And yet it’s pretty difficult to buy presents for him because I dislike repeating myself. Like I’ve been buying him clothes or sneakers in past Christmases just because I couldn’t think of what else to give him. (Then it’ll be his birthday in January, and again— what should I give him? Another toy? Another set of pajamas? Oh, boo.) But I suppose to him, it’s all the same. He will be excited with every gift paper pulled and torn, to reveal the wonderful present he received. He’s still too young to remember anyway what I or the other family members gave him in years prior He’s still in that joyful-to-receive-any-gifts stage. Now that family members are older and preparing our own Christmas get-together, it’s unfortunate that we won’t be complete except on Christmas Eve, unlike in our younger years when it was imperative that the entire family was home especially for the Noche Buena feast. And whereas before, all of us had to be home on Christmas Day as well, work commitments of a few family members will leave empty seats. Unlike our wonder years, we also no longer have a reunion with Mama’s side of the family. Of course, some of them are abroad anyway. Still, there are a few of them who remain in the country. On New Year’s Eve, when the clock strikes at midnight, my siblings and I would jump up and down in our youth ostensibly so we would grow tall. Fat chance that did us any good. And yet Big Sister says she taught the same to her kids, even if we, as Garfield says, just undertall. A Catholic tradition that is already slowly giving
way to the modern way is the Simbang Gabi, a series of nine dawn masses, which start on December 16. The Spanish friars noticed that farmers were too tired to attend the evening novenas in preparation for Christ’s birth, that as a compromise the Masses were moved at dawn. This way, the farmers could attend the Misa de Gallo (Rooster’s Mass) before working the fields. These days though, many churches hold the anticipated Simbang Gabi Masses at 5 pm or 6 pm, starting December 15, so office employees everywhere can attend these right after work or before going home. Many of them, of course, have to be up and early the next day to leave for work, lining up at the MRT as early 5 am just to make sure they arrive at their offices by 8 am. And so it comes full circle—that the challenges of our modern times have returned us to the practice that the Spanish friars had intended. Meanwhile, I asked a few friends to share the Christmas traditions they no longer follow, either due to these being outdated, or were just weird or plain silly. Wishing everyone a Merry Christmas and a Happy New Year. Love and light to all!
BANGKO SENTRAL NG PILIPINAS DEPUTY GOV. BERNADETTE ROMULO-PUYAT
WHEN I was younger, I took completing Simbang Gabi very seriously. Finish all nine dawn masses and you were entitled to a wish. Not guaranteed, not instant, but somehow earned. In practice, I never completed it. There was always one morning that I missed. Too sleepy, too cold, or I simply did not wake up. I liked to think that intention still counted. Looking back now, the idea that faith came with perfect attendance feels a bit funny. But as a child, it made complete sense. Wake up early, try your best, and trust that the effort mattered.
CHEF J. GAMBOA (CIRKULO)
AS a kid you have to mail your letter to Santa. Now kids don’t even write letters anymore. They just text! As a child, we would attend Christmas Mass, which was at 12 midnight. So I would have to nap in the evening and then wake up to go to Mass. These days I prefer the 8 pm or 10 pm anticipated Mass.
LEXUS MANILA PRESIDENT CARLO ABLAZA
I WAS always stoked that Father Christmas would give me a present under the Christmas tree every morning of the 25th. He suddenly stopped sending me Christmas gifts when I hit my teens despite my constant writing to him. I found this weird and did not make sense at all. I’d always been a good boy! Hahahaha!
METRO PACIFIC TOLLWAYS CORP. CHIEF HUMAN RESOURCES OFFICER MARIA ANTHONETTE VELASCO-ALLONES
COMPLETING the nine-day Misa de Gallo was a family tradition I grew up with in Naga City. Getting up
before the roosters crowed was a challenge, especially with the chilly December weather, but my spinster aunts made sure we were in our Sunday’s best as we walked to church in the dimly lit streets of the city. The sacrifice strengthened the belief that once you complete the nine-day masses, your wish will be granted. I hardly recall the wishes I made as a child, much less if they were granted. But the tradition grew in me into my adult life, except that now it serves a different motivation. The novena masses help prepare me for Christmas Day, spiritually at least. Amid the chaos and demands to make Christmas felt by others through gift-giving and social celebrations, the dawn masses provide serenity. The quiet mornings make for fresh perspectives. Amid our country’s dark nights with all the issues around the decay of our moral fiber as a nation, the Masses allow me to find hope, still. And so now, this tradition is not about earning a granted wish, but a gift in itself worthy of thanksgiving and rejoicing.
For a diabetes-friendly family festivity THE holiday season is a time we deeply cherish. It is filled with gatherings, overflowing tables, and traditions that bring generations together. For those living with diabetes, however, it can also come with added challenges. Yet this joyful period can still be embraced fully with mindful choices that support both celebration and well-being. During the holidays, routines often change. Meal times shift, food portions grow larger, and physical activity may take a backseat to long conversations and festive feasts. This is precisely why staying proactive about health becomes even more important. The good news is that enjoying the holidays and managing blood sugar levels do not have to be opposing goals. Small strategies can go a long way. Practicing portion control, making healthier food swaps, and staying physically active can help keep blood sugar levels steady. Being informed allows us to enjoy celebrations with confidence. One helpful approach is to make mindful food swaps without giving up familiar flavors. Rice, for example, is a staple on Filipino tables. While white rice is common, alternatives such as brown rice offer added nutritional benefits. Brown rice retains essential vitamins, minerals and antioxidants, and its lower glycemic index means it has a gentler effect on blood sugar levels. Similarly, cauliflower rice is a non-starchy option that is lower in calories and carbohydrates, making it a smart substitute for those looking to manage glucose levels. Cooking methods also matter. Choosing grilled dishes over fried foods can significantly reduce fat and calorie intake. Fried foods tend to be higher in trans fats, which are associated with increased risks of diabetes, heart disease, and obesity. Grilling, on the other hand, uses less fat and helps retain some of the food’s vitamins and minerals while still delivering satisfying flavor.
Classic Filipino dishes can also be made healthier with small adjustments. Leaner cuts of meat, such as chicken breast or pork loin, are healthier options that can be used in favorites like adobo and menudo. Adding fiber-rich vegetables to dishes such as pancit, lumpia, and stews—like carrots, squash, bell peppers, cabbage, or okra—not only enhances color and texture but also supports healthy cholesterol and blood sugar levels. Fiber plays a crucial role in digestion and helps slow the absorption of sugar into the bloodstream. When it comes to dessert, choosing fruit over sugar-heavy treats can be a wise move. Fruits provide natural sweetness while offering fiber that helps regulate blood sugar levels, supports digestion, and promotes a feeling of fullness. Another practical guide is the diabetes-friendly plate method, which helps balance meals visually and nutritionally. Ideally, half of the plate should be filled with nonstarchy vegetables, one quarter with lean protein, and the remaining quarter with complex carbohydrates. This balance supports steady glucose levels while ensuring meals remain satisfying. It is also important not to skip meals, even during busy holiday schedules. Skipping meals may lead
to sudden blood sugar spikes later in the day. For moments when regular meals are delayed, diabetesspecific nutritional drinks such as Glucerna can be a convenient option. Glucerna is a low glycemic index choice that can be enjoyed as a snack or meal replacement. With its slow-release carbohydrate blend, it provides complete and balanced nutrition designed to support steady blood sugar levels. Celebrating with movement is another powerful yet often overlooked tool. Physical activity helps regulate glucose, improves insulin sensitivity, and balances heavier meals. Holiday movement does not need to feel like exercise. Walking with loved ones to admire Christmas lights, dancing after Noche Buena, or staying active while decorating, cooking, or tidying up all count. Monitoring glucose levels remains essential, even when routines change. Continuous glucose monitoring devices such as FreeStyle Libre provide real-time insights through a small wearable sensor, helping individuals understand how their bodies respond to different foods and activities. This information empowers better choices and offers peace of mind throughout the season. “Living well with diabetes starts with the power of choice—choosing nourishing foods, engaging in enjoyable physical activities, and monitoring glucose continuously,” shared Dr. Gamaliel Tayao, Abbott’s head of medical affairs in the Philippines. “These everyday decisions allow people with diabetes to fully embrace the season, protect their health, and step into the new year with confidence and hope.” As families gather to celebrate, let us remember that caring for our health is not about restrictions. With mindful choices, the holidays can remain joyful, meaningful, and nourishing in every sense of the word. Learn more at tinyurl.com/mr472f8e.
BANGKO Sentral DG Bernadette Romulo-Puyat with her dogs Biggie (in her arms), Mocha and Pizza
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HE National Basketball Association (NBA) and FIBA said Monday they will start the process of engaging with teams and owners about joining their planned new league in Europe next month. As has been expected, the league will offer both permanent spots and “a merit-based pathway” to qualifying on an annual basis through FIBA’s Basketball Champions League or an end-of-season tournament, the sides said. Every team in a FIBA-affiliated European league would have the chance to qualify. “The format of the league respects European sport model principles by offering any ambitious club in the continent a fair pathway to the top,” said Andreas Zagklis, secretarygeneral of FIBA or the International Basketball Federation. Many details for the new league are yet to be formally finalized, including when it will start play—the working target has been October 2027—and how many teams will take part in that inaugural season. Among the models that the NBA and FIBA have explored is a 16-team league, with 12 “permanent” spots and the other four available through qualifying.
mirror_sports@yahoo.com.ph | Editor: Jun Lomibao
NBA, FIBA closer to new planned league in Europe The sides have been discussing a European league for many years, and no shortage of the NBA’s biggest stars right now hail from that continent—such as Denver’s Nikola Jokic, Milwaukee’s Giannis Antetokounmpo, San Antonio’s Victor Wembanyama, the Los Angeles Lakers’ Luka Doncic and Utah’s Lauri Markkanen. About one in six NBA players are from Europe. Efforts toward starting the new league seemed to begin intensifying around the time of the 2024 Paris Olympics. Earlier this year, Zagklis and Silver sat side-by-side at a New York news conference to announce that the NBA and FIBA were moving forward with the project and things have moved quickly since, with JPMorgan and the Raine Group being brought on board this summer to
advise on certain financial components. “Our conversations with various stakeholders in Europe have reinforced our belief that an enormous opportunity exists around the creation of a new league on the continent,” NBA Commissioner Adam Silver said. Current target countries for the NBA-FIBA endeavor are known to include Britain (with the potential host cities there being London and Manchester), France (Paris and Lyon),
Spain (Madrid and Barcelona), Italy (Rome and Milan), Germany (Munich and Berlin), Greece (Athens) and Turkey (Istanbul). The NBA has a pair of regularseason games in Europe in midJanuary, with the Memphis Grizzlies and Orlando Magic going to Berlin and London for contests.
World Basketball Day celebration
FIBA has chosen the third edition of
World Basketball Day to underline how the sport inspires and positively shapes the lives of people around the globe—not least through some of the iconic figures who have ensured their legacy is woven into the fabric of the game. Fittingly, World Basketball Day, recognized by the United Nations in 2023, provided a perfect platform to reveal which legends, whose outstanding contributions have impacted the sport so deeply, will now be enshrined in the FIBA Hall of Fame as Members of the Class of 2026. Seven players and a coach will be honored at a ceremony on April 21, which will follow the eagerly anticipated FIBA Women’s Basketball World Cup 2026 Draw.
And, it’s a German in the shape of hoops legend Dirk Nowitzki, as well as a FIBA Women’s Basketball World Cup icon in Sue Bird of USA who headline the 2026 Class. They will be joined by fellow inductees Céline Dumerc, Hedo Türkoğlu, Clarisse Machanguana, Ludwik Miętta-Mikołajewicz, Wang Zhizhi and Ismenia Pauchard. Also, as part of the celebrations for World Basketball Day, FIBA has spoken to the direct descendants of the sport’s creator Dr. James Naismith, to reflect on how the essence of the game remains—even as it enjoys staggering global growth. Naismith’s grandson Jim, who previously visited the House of Basketball in Mies, Switzerland, three years ago to celebrate FIBA’s 90th birthday, helped with fellow family members to give a fascinating and indepth insight into the life and outlook of the sport’s genius inventor. The concept for having a dedicated World Basketball Day came primarily from New York University professor and lifelong basketball devotee, David Hollander. December 21 is dedicated to highlighting the positive impact of the sport around the globe. AP and FIBA News
Delgaco leads Atletang Ayala athletes’ medal-clinching campaign in SEAG
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IGHTEEN national athletes under the Atletang Ayala program contributed two gold, five silver and 10 bronze medals t the Philippine campaign in the 33rd Southeast Asian Games in Thailand. Paris Olympian Joanie Delgaco of IMI won gold in women’s double sculls of rowing with Kristine Paraon as well as Jayvee Ferrer of AC Health and Leah Jhane Lopez of Globe in mixed team of judo. The other medals came from archery, badminton, fencing, shooting, taekwondo and wrestling. The silver medalists were Laila Delo of AC Mobility in taekwondo (73 kgs), Jayvee Ferrer of AC Health in judo (81 kgs), Noelito Jose Jr. of BPI in fencing (épée), Janna Catantan of AC Health in fencing (Team Foil) and again Delgaco in individual sculls. The bronze medalists in taekwondo were won by Taekwondo’s Kurt Barbosa of IMI (54 kgs), Baby Jessica Canabal of BPI (53 kgs) and Dave Cea of Ayala Land (74 kgs); judo’s Lopez (kata); wrestling’s Jason Baucas of BPI; and fencing’s Nathan Perez of Ayala Coop (foil) and Janna Catantan of AC Health (foil) clinched individual bronze medals. Fencibng’s Nathan Perez of Ayala Coop and Sammuel Tranquilan of ACEN (team foil), Hanniel Abella of Ayala Land (team épée) and Noelito Jose Jr. of BPI and Sammuel Tranquilan of ACEN (team épée) also
captured bronze medals. Although the Atletang Ayala delegation comprised just 18 of the Philippines’ 1,168 athletes at the SEA Games—representing 1.54 percent of the national contingent—they delivered 17 medals, accounting for 7.42 percent of the country’s total medal haul. The performance translates to a medal contribution nearly five times greater than their share of the national athlete pool. Their impact was similarly concentrated across disciplines—Atletang Ayala athletes competed in eight of the games’ 50 sports (16 percent) and 30 of 574 total events (5.23 percent) yet produced a medal share that exceeded both their sport coverage and event participation to underscore the program’s effectiveness in developing highperforming athletes. Atletang Ayala is the athletic support program of the Ayala Group of Companies managed by Ayala Foundation.
JACKIE CHAN holds the Olympic torch passing through the Archaeological Park in Pompeii Monday. AP JOANIE DELGACO (right) celebrates with teammate Kristine Paraon their women’s doubles sculls gold medal. POC MEDIA POOL
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English cricketers in Melbourne tests: Chug! Chug! Chug!
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ELBOURNE, Australia— England’s managing director of men’s cricket Rob Key says he will investigate the drinking habits of the England team following reports that their mid-Ashes beach break may have involved over-indulging of alcohol. England lost each of the first three tests to allow Australia to retain the Ashes in just 11 days of on-field action. The squad visited the resort town of Noosa on the Sunshine Coach north of Brisbane between the second and third tests, a long-planned part of the
Film superstar Jackie Chan in umpteenth Olympic torch run
itinerary designed to help players relax and unwind on the long tour. Key, who did not join the players in Noosa, said he had no problem with the break, but would not be happy if he found evidence of over-indulging. “If there’s things where people are saying that our players went out and drank excessively, then of course we’ll be looking into that,” he said Tuesday in Melbourne, where the fourth test begins Friday. “Drinking excessive amounts of alcohol for an international cricket
team is not something that I’d expect to see at any stage and it would be a fault not to look into what happened there. From everything that I’ve heard so far, they actually were pretty well behaved. Very well behaved.” He added: “We’ve got enough ways of finding out exactly what happened and everything that I’ve heard so far that they sat down, had lunch, had dinner, didn’t go out late, all of that, had the odd drink. I don’t mind that. If it goes past that, then that’s an issue as far as I’m concerned.”
One closest to the heart matters most WE won not just one basketball gold but two. Definitely a euphoric moment. Congratulations are in flaming order for men’s basketball coach Norman Black and women’s mentor Patrick Aquino. They just accomplished the improbable. In fact, their feats carried the equivalent of the nation’s dream of winning the overall title. They ought to be feted lavishly, treated royally as though they came from a war grandly victorious despite being armed with tiny toothpicks ranged against howitzers and bazookas. We finished sixth overall among 10 nations but that was no reason to be ashamed of. Whether sixth or even last, what was important, what mattered the most, was bringing home the trophy for the sport that is closest to the heart. The goal was not even to emerge among Top 5 to begin with. We were literally aware that winning the overall crown was not only utopia, but an impossible dream—as impossible
as Manny Pacquiao knocking out Mike Tyson. Basketball being the Vatican for every Filipino sports enthusiast, our recent SEA Games twin victories in men’s and women’s basketball was like seeing Cardinal Tagle being crowned as the successor of Pope Francis. But the paths to our glorious glories were paved with
Key also said he had previously looked into reports that players had been spotted drinking the night before a match in New Zealand shortly before the Ashes. A short clip of white-ball captain Harry Brook and Jacob Bethell was shared by a member of the public on social media, said to have been taken while they were out in Wellington before the third one-day international on Nov. 1. “I didn’t feel like that was worthy of formal warnings, but it was probably worthy of informal ones,” he said. “I think that was a bit of a wake-up call actually for what they’re going into. I don’t mind players having a glass of wine over dinner. Anything more than that, I think is ridiculous, really.” AP
OMPEII, Italy—Actor Jackie Chan carried the Olympic torch through the ruins of Pompeii during the relay for the Milan Cortina Winter Games on Monday. The day’s route also passed along the picturesque Amalfi Coast. On Tuesday, Italian soccer standouts Fabio Cannavaro and Ciro Ferrara will carry the torch through their native Naples, where the relay will pause for Christmas. In all, the relay will cover 12,000 kilometers (7,500 miles) and wind its way through all 110 Italian provinces before reaching Milan’s San Siro Stadium for the opening ceremony on February 6. An ancient Roman city, Pompeii was buried by ash and lava when Mount Vesuvius erupted in AD 79. Chan is considered of of the most passionate about the Olympic Movement and his participation in the torch run in Italy wasn’t the first—he was part of the official Olympic Torch Relay at the Beijing 2008 and Beijing 2022 Games and carried the Paralympic
thorns from the start. We absorbed eligibility issues suddenly manufactured by host Thailand, not accidentally but deliberately inflicted on both squads. That’s the queer side of the Games—allowing the host country to tinker with rules with impunity. Virtually all our top basketball guns were expelled from competition even before the first jump ball was done, making it almost impossible for us to plunge to action competitively. It was painful, as the blows nearly decimated our line-ups. It was like seeing America play in the Olympic Games without their National Basketball Association (NBA) superstars. Suicide. The ultimate tests were our teams’ battles against the ultimate foe: Thailand, the country salivating to defeat our basketball crews--the women’s team included—that’s why they went on lengths to find ways, as the BDO slogan goes, in desperately trying to derail us. They failed. Miserably. Playing with dignity and honor, our men’s and women’s teams kept the fires aflame up to the very end, rising to the occasion each time enemy fire threatened. They were all heroes and heroines worthy of being
flame ahead of Paris 2024. In Rome, Italy’s four flag bearers for the games were honored in a handover ceremony at the presidential palace also on Monday. Short track speedskater Arianna Fontana, cross country skier Federico Pellegrino, Alpine skier Federica Brignone and curler Amos Mosaner were handed flags by Italy President Sergio Mattarella. Skiers Chiara Mazzel and René De Silvestro, who will be flag bearers at the Paralympics, were also honored. Fontana and Pellegrino will carry the flag at the main opening ceremony at Milan’s San Siro soccer stadium on February 6, while Brignone and Mosaner will have the honors at a simultaneous ceremony in Cortina d’Ampezzo on the same night. Fontana has won an Italian women’s record 11 Olympic medals across five different Winter Games stretching back to Turin in 2006. She also carried her country’s flag at the opening ceremony for the 2018 Pyeongchang Games. AP
called patriotic Filipinos to the core. Alas, it was not only in basketball that we dug deep. Include football, where our women shin-busters prevailed in a most amazing fashion anchored on Olivia McDaniel’s final penalty save that frustrated Vietnam’s title aspirations for a fifth straight time. On individual achievements, who cannot salute the legendary EJ Obiena for his fourth Games’ pole vault gold, the iconic 20-year-old tennis sensation Alex Eala for being only the third Filipina to win the gold after Pia Tamayo and Maricris Fernandez and the solid Eumir Marcial for the light-heavyweight boxing gold. There were more too many to mention here. To one and all, the nation couldn’t be prouder. THAT’S IT Chairman Pato Gregorio of the Philippine Sports Commission must also be recognized for his daring move to support the biggest Games delegation ever of 1,600 athletes, his rationale being that the SEA meet is the best testing ground to build future heroes. Those 154 bronze medalists we produced—the most in that sector—might yet proceed to become gold medalists soon, if not in the regional meet, but also possibly in higher category events like the Asian Games— or even the Olympics? March on, Chairman! Cheers!
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ASEAN AMBASSADORS SERIES
AMBASSADOR MARCIANO OCTAVIO GARCIA DA SILVA:
‘Filipinos are our Asean brothers and mentors’
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By Malou Talosig-Bartolome
HEN Timor-Leste’s head of mission to Manila stood before a packed hall at the Department of Foreign Affairs’ Foreign Service Institute (FSI), he carried more than the title of diplomat. Ambassador Marciano Octavio Garcia da Silva actually carried the story of a nation that had fought for its place in Southeast Asia, and the gratitude of a people who found in the Philippines a steadfast ally. The moment was still fresh in his memory. Weeks earlier, in Kuala Lumpur, Asean leaders had formally welcomed Timor-Leste as the bloc’s eleventh member. “When [they] announced our membership, I was in tears,” da Silva admitted. “All those years of effort, uncertainty, and collective determination came rushing back. It was a powerful affirmation that, together as a nation, we had transformed a shared dream into reality.” It was late in November when the FSI co-organized with the University of the Philippines Asian Center the Ambassador Lecture Series titled “Timor-Leste’s Path to Asean Membership: Opportunities and Challenges.” There, da Silva discussed motivations and challenges of the Democratic Republic of Timor-Leste’s accession in Asean, as well as plans
in developing a more connected, sustainable, and resilient Southeast Asian region. The envoy also shared his country’s aspiration to be integrated in the bloc’s markets and digital systems, as well as means to harness its blue economy, while embodying regional values of empowering its people and establishing a shared cultural identity.
Shaped by struggle
BORN in Dili on March 21, 1963, da Silva came of age during his country’s turbulent years of occupation and resistance. He was a founding member of the student resistance during Indonesia’s occupation; his activism forged in the crucible of struggle, where the fight for independence demanded courage and conviction. In 2000, he joined the first batch of diplomats trained under the United Nations Transitional Administration in East Timor or UNTAET. “We were learning diplomacy as we practiced it,” he recalled. “We began our engagement with the international community from a posi-
tion of profound humility, effectively starting from zero.” Guided by leaders like Nobel laureate José Ramos-Horta, whom he calls “the father of Timor-Leste’s diplomacy,” the ambassador learned that diplomacy is not merely a profession but “a lifelong commitment to service, continuous learning, and the advancement of the national interest.”
Career across continents
DA SILVA’S diplomatic career spans more than 20 years in the Ministry of Foreign Affairs of Timor-Leste. His postings reflect both breadth and depth: From 2002 to 2003, he was a desk officer for Indonesia Affairs’ Bilateral Division; 2003 to 2005: director of the Multilateral Division; 2005 to 2010: counselor at the Embassy of Timor-Leste to Belgium and the European Union in Brussels; 2008 to 2010: chargé d’affaires, also in the Belgian capital; 2010 to 2013: director-general for Regional Integration and Pacific Affairs; 2013 to 2019: ambassador to Switzerland and Monaco, and permanent representative to the United Nations in Geneva. He was the adviser for International Relations in the Office of the President before his current posting in Manila. His European assignments provided exposure to multilateral diplomacy and institutional cooperation. “Europe’s long experience with regional integration offered valuable lessons,” he shared. “Here in Manila, I apply those lessons by promoting
constructive dialogue, strengthening institutional linkages, and advancing cooperation based on mutual benefit.”
Filipino solidarity
THE Timorese envoy recalled how more than 1,000 Filipino peacekeepers, police officers, and civilian experts served in his country between 1999 and 2012 under UN missions. They rebuilt communities, trained institutions, and offered what he called “human acts of solidarity.” “These were not acts born of treaties,” he said, “but of compassion. Filipinos came to us not as strangers, but as brothers.” As Timor-Leste stabilized, the Philippines shifted from humanitarian aid to mentorship. The FSI welcomed Timorese diplomats, training them in negotiation, statecraft, and Asean cooperation—a “transfer of confidence from one democracy to another.” Education became the most enduring bridge, with thousands of Timorese studying in Philippine universities and returning home to shape their nation’s future. Da Silva also pointed to a spiritual kinship. As predominantly Catholic nations, Timor-Leste and the Philippines share values of compassion and resilience. Filipino missionaries and educators were present during Timor-Leste’s most fragile years, when they reinforced bonds that went beyond politics. “Our shared faith gave us strength,” he said. “It reminded us that solidarity is not only about institutions, but about values.”
Colonial past
TIMOR-LESTE’S deep Catholic identity stems from its centuries as a Portuguese colony, beginning in 1515. Missionaries introduced Catholicism, which today is embraced by over 97 percent of Timorese—making it Asia’s most Catholic nation. After Portugal’s withdrawal in 1975, Indonesia occupied the territory, sparking decades of resistance. Independence was finally restored on May 20, 2002, which made Timor-Leste Asia’s youngest nation. For da Silva, Asean membership is the natural culmination of that journey.
Membership and diversity
FOUNDED in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand, Asean has since expanded to include Brunei Darussalam (1984), Vietnam (1995), Lao People’s Democratic Republic and Myanmar (1997), Cambodia (1999), Timor-Leste (2025). Da Silva emphasized that TimorLeste’s inclusion is a “statement of faith” that the bloc’s strength lies in diversity and trust, not diminished by size or history. “We are proof that Asean is not only about markets and treaties,” he stated, “but about solidarity and inclusion.”
Ethics and recognition
HIS service during the 1999 Popular Consultation earned him the UN’s “Elie Wiesel Ethics Award”— a recognition of his integrity and commitment during Timor-Leste’s transition.
“To receive an award associated with Elie Wiesel carries a responsibility I take very seriously,” he said. “It reminds me that diplomacy is not only about advancing national interests but also about upholding moral principles and serving humanity with conscience.” He was also named Honorary Citizen of Lafayette, Louisiana in 2001.
The ambassador’s call
DA SILVA’S speeches—whether at the FSI or at the University of the Philippines’ Asian Center—consistently return to one theme: TimorLeste’s journey is inseparable from Philippine solidarity. He often invokes a Tetun phrase: Ita boot hotu ne’e familia ida deit. “We are all one family.” (Tetun (or Tetum) is an indigenous Austronesian language of the island of Timor, serving as one of the two official languages of TimorLeste (alongside Portuguese) and also spoken in West Timor, Indonesia. It functions as a vital lingua franca, bridging diverse linguistic groups in East Timor widely used in media and daily life, heavily influenced by Portuguese due to colonization.) “My message to the Filipino people is one of appreciation, partnership, and shared aspiration,” he said. “It is particularly meaningful that our Asean accession coincides with the Philippines’ chairmanship in 2026. We look forward to the Philippines’ continued guidance as we advance on our Asean journey.” Continued on D4
Envoys&
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D2 Wednesday-Friday, December 24-26, 2025
From farming to finance: The halal economy explored in WTCMM’s ‘Business Broadcast’
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Potential for businesses
RECENT economy forum explored growing opportunities within the halal ecosystem: from agriculture and food production to banking, finance, and investment. The World Trade Center Metro Manila (WTCMM) hosted the Business Broadcast: “The Halal Economy Forum: From Farm to Finance”—a conference that brought together over a hundred participants from government agencies and the business community. “Halal is no longer just a religious designation; it is a national development strategy.” This was the forum’s prevailing message, as officials and industry experts highlighted the halal economy’s representation of a powerful framework for inclusive growth, food security, and ethical finance. In the Philippine context, halal is gaining traction not only because of the growing domestic Muslim market, but also due to rising demand from export markets in the Middle East, Southeast Asia, Europe, and North America. With its robust agricultural base and strategic location, the country
holds vast potential to become a competitive Halal hub in Asia Pacific. The morning session focused on halal food production and the opportunities for small and medium enterprises (SMEs) to scale through certification and compliance with international standards. Juhainah Javier of Mubarak Fresh Foods shared her inspiring entrepreneurial story—starting her business with just two kilos of product sold daily, which grew to more than 100 kilos a day after she obtained her halal certification. Her success demonstrated the credibility and market access that certification brings, especially for businesses seeking to penetrate institutional and export markets. Engr. Zamzamin L. Ampatuan, who serves as the undersecretary for Regulations and Infrastructure at the Department of Agriculture (DA), underscored that halal food production offers the Philippines a pathway
AMBASSADOR Dato' Abdul Malik Melvin Castelino
to food security, export competitiveness, and rural empowerment: “Halal is a standard of hygiene, ethics, and quality. Our farmers are ready to meet that standard,” Engr. Ampatuan said, as he noted the government’s commitment to supporting industry-compliant food infrastructure—including a P350-million poultry facility in Tarlac. The DA official cited that the domestic halal food demand already exceeds P6.6 billion annually, with dairy, beef, and poultry comprising nearly 90 percent of local consumption. He called for greater investment in scaling production and aligning agricultural programs with related global protocols.
A PANEL discussion ensued, which featured experts who provided practical guidance on opportunities businesses—both emerging and established—can take advantage of gaps in the halal value chain, particularly in certification, logistics, and product diversification. The afternoon session transitioned to halal finance, opening with a compelling presentation from Atty. Arifa Alah of the Bangko Sentral ng Pilipinas. She provided a clear and straightforward explanation of the difference between conventional banking and Islamic banking, emphasizing how both systems can serve as vital sources of capital for entrepreneurs and enterprises. In his keynote, Ambassador Dato’ Abdul Malik Melvin Castelino of Malaysia emphasized that Islamic finance is not a niche concept but a scalable, ethical framework supporting inclusive development and cross-border investment. “Malaysia’s success in building a dual banking system shows that Islamic finance can coexist with conventional models, while expanding access and deepening trust,” Castelino said. Meanwhile, Dr. Aleem Siddiqui M. Guiapal—program head of the the Department of Trade and Industry’s
Norway and Roots of Health: Youth, community-led innovations key to closing PHL’s HIV prevention gap
Philippine Halal Industry Development—urged the Islamic finance’s institutionalization to attract ethical capital and support the growth of Halal enterprises. “Halal is now a global lifestyle economy. We must build systems that integrate food, finance, and faith into a cohesive development strategy,” he said, as he cited the successful issuance of a $1-billion Sukuk bond in 2023 as proof of growing investor confidence. The afternoon culminated with another panel discussion, where experts addressed audience questions on Islamic banking, finance, and insurance. The session provided clarity on ways businesses can access Shariah-compliant financing instruments and Takaful (Islamic insurance) to expand operations or enhance resilience against market risks.
PHL as regional hub
THE forum aligned closely with the goals of the Philippine Halal Industry Development Strategic Plan 2023-2028, which seeks to double sector-certified output, generate 120,000 jobs, and attract P230 billion in investments. With over 3,000 halal-certified products and a growing reputation in Muslimfriendly tourism, the Philippines is steadily positioning itself as a regional halal hub.
Organized by WTCMM, the event was supported by the Department of Trade and Industry-Halal Office, Bangko Sentral ng Pilipinas, Maybank Philippines, Etiqa Philippines, Miguelitos, and M Catering. Their active participation reflected a shared commitment to advancing the halal economy as a driver of national development. Part of the center’s Business Club’s Business Broadcast series, the Halal Economy Forum forms part of the organization’s continuing trade education program, where experts and industry leaders discuss trends and insights aimed at empowering entrepreneurs and companies to harness new market opportunities. Through the broadcast platform, the WTCMM continues to serve as a strategic venue for dialogue and collaboration among government, industry, and the entrepreneurial community. The forum not only expanded awareness of halal opportunities but also deepened the national conversation on building an economy anchored on ethics, inclusivity, and sustainable growth. By bringing together experts, entrepreneurs, and policymakers under one roof, WTCMM reaffirmed its role as a catalyst for knowledge-sharing, capacity-building, and business empowerment in the Philippines’ evolving trade landscape.
Israeli Embassy joins outreach by Nueva Ecija’s Shalom Club
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HE youth and community-led innovations are essential to closing the Philippines’ widening HIV prevention gap, according to speakers at the World AIDS Day forum hosted by the Royal Norwegian Embassy and Roots of Health, a Palawan-based nongovernment organization. Despite gains in testing and treatment, prevention remains the weakest link in the national HIV response. Infections have surged by more than 550 percent since 2010, with 57 new cases reported daily, placing young Filipinos aged 15 to 23 at growing risk. Ambassador Christian Halaas Lyster of Norway said the challenge is not technological, but systemic: “Behind these numbers are young people, students, workers, dreamers whose lives are shaped by silence and stigma.” Lyster noted that moral judgment, limited reproductive health education, and hesitation to use condoms continue to widen the prevention gap. “These barriers are human-made; they can be dismantled,” the envoy added. Executive Director Amina Evangelista Swanepoel of Roots of Health stressed that prevention efforts cannot succeed unless communities normalize conversations about sex and relationships. “Prevention requires honest conversations about sex, and that’s where we still struggle as a country,” Swanepoel said. “Young people deserve accurate information, accessible prevention tools, and adults who can speak to them without judgment.”
Multilateral programs
VOICES of the youth and community leadership were spotlighted as crucial to reversing current trends. Sangguniang Kabataan official and Puerto Princesa youth advocate Kyla De Luz shared how peer-led information sessions and mobile screenings help to break stigma.
DEPUTY Ambassador Ester Buzgan (fourth from left) hands over gifts to Mabini Elementary School students PANELISTS and speakers at the December 1 World AIDS Day Forum, with Ambassador Christian Halaas Lyster (fifth from left)
She emphasized that change often begins, not in big speeches or huge events but in “small conversations” with classmates, friends or community members who simply need accurate information. “Youth participation matters because we can reshape the narrative,” she added. “We have the power to normalize conversations about HIV and build a culture where no one feels afraid to know their status.” A panel featuring Swanepoel, Dr. Chisty Andaya of the Department of Health-MIMAROPA, Amara Quesada of Action for Health Initiatives (ACHIEVE) and Anastacio Marasigan of TLF Sexuality Health and Rights Educators Collective (TLF Share) highlighted local innovations that put communities in the center of HIV response. ACHIEVE’s community-led monitoring, which gathers feedback from people living with HIV to strengthen the HIV service delivery network, was shared among attendees. Also discussed were Roots of Health’s condom dispensers in high foot traffic areas, community-based HIV screening, sundown clinics offering afterhour services, and story-driven digital campaigns for stigma reduction. The need for machine learning and artificial intelligence in HIV
diagnosis and treatment was also explored by the panelists and participants. Swanepoel noted that the people close to the epidemic “are closest to the solutions. Youth understand their peers’ fears and motivations and communication styles, while community groups grasp local culture and stigma. These insights are sometimes missed by top-down programs.” She added that youth and community response generate stories that guide more humane and effective strategies. Programs informed by lived experiences are more effective and tend to be adopted more quickly.
Partnerships amid gaps
HIV advocate Elena Felix, who has lived with HIV for 31 years, observed that progress remains painfully slow: “Stigma still persists in healthcare settings, and infections continue to rise rapidly.” Felix warned that international funding shortfalls, including recent reduction in the US President’s Emergency Plan for AIDS Relief allocations or PEPFAR, further jeopardize prevention efforts. “If HIV infections have increased by 550 percent in recent years, then investments in HIV programs should
also increase by 550 percent,” she said. “We cannot expect the response to keep up if the resources don’t.” Lyster reaffirmed Norway’s commitment to supporting inclusive, community-driven models: “Closing the prevention gap requires shared responsibility between governments, development partners, and civil society.” Norway recently announced new contributions worth NOK2 billion to the Global Fund to Fight AIDS for 2026-2028, and NOK10 billion in total support to Gavi: the Vaccine Alliance for the Global Fund. The urgency for stronger collaboration as donor funding declines worldwide also surfaced. This includes the need to transition to domestic financing and ensure government resources are allocated efficiently to sustain prevention efforts. Speakers agreed that youth and community leadership, backed by stronger government support, can normalize testing, drive earlier diagnosis, and expand access to education and prevention services, especially for those most at risk. “World AIDS Day is a day of remembrance…when we remind ourselves that AIDS is not only about medicine. It’s about dignity, action, and inclusion,” Lyster said.
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HE Embassy of Israel in Manila joined the Shalom Club-Nueva Ecija Chapter for their annual holiday outreach “Ngayong Pasko, Salo Tayo”—a tradition that brings simple Christmas cheer and meals to children from public schools and indigenous communities across the province. This year’s beneficiaries were students of Mabini Elementary School in Sto. Domingo, Nueva Ecija. Despite being a small school, its teachers and staff create a nurturing and child-friendly environment for all 157 learners. Deputy Ambassador Ester Buzgan personally visited the province for the turnover of donations and participated in activities with the children. She thanked everyone behind the initiative for making education brighter and reaffirmed that children deserve a better future. She highlighted the local farming community’s key role: “The farmers are our heroes. They work tirelessly to feed our communities and help our children grow strong.” The deputy ambassador added that “children are like little seedlings. We need to nourish them with love, care, and the right tools so they can study well, grow, and reach their full potential.”
Buzgan explained that this belief inspired the embassy’s support for the school’s learning environment, which included the donation of a new television, sound system, and projector to help students learn better and make lessons more engaging. The embassy official personally handed over gifts to the students together with Municipal Administrator Imee de Guzman and Shalom Club-Nueva Ecija Chapter president Lorna Mae Vero. It said that the food, toys, school supplies, hygiene kits, and educational tools shared reflected its care for kids and strong support for the community. According to the embassy, “moments like these show that diplomacy is not only practiced in offices or formal meetings, but also through shared meals, children’s laughter, and simple acts of giving. Through these gestures of care and solidarity, the embassy reaffirms its commitment to nurturing friendship and hope.” This year’s initiative was supported by the Makati Medical Center Foundation, which provided toys and hygiene kits for the children, and by the Nueva Ecija Seed-Grower Multi-Purpose Cooperative for its generous support.
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Malaysia-Philippines I art fest commences T
Innsbruck Nature film fest debuts in Asia with 1st edition in Manila
HE Embassy of Malaysia, in collaboration with Artdialogo Asia, Tourism Malaysia and the Department of Education (DepEd), formally opened the SENISIKAT: Malaysia-Philippines Art Festival in November at the Centro de Turismo Intramuros in Manila City. SENISIKAT—a fusion of seni: the Malay word for “art” and sikat: the Filipino term meaning “famous”—was a cross-cultural festival in celebration of Malaysia and the Philippines’ sociocultural cooperation and bilateral relations. This initiative was specially designed to promote mutual understanding, creativity, and collaboration between both countries through the arts. It also highlights the value of inclusive public or cultural diplomacy, particularly the active role of the community in promoting their bilateral relations. This event was also staged at a meaningful moment for Malaysia’s engagement with the region, as it recently concluded its 2025 Asean chairship—a period focused on strengthening inclusion, sustainability, and community-building across Southeast Asia. In October 2025, Malaysia formally handed over the reins to the Philippines—an important milestone for the region
AMBASSADOR Dato Abdul Malik Melvin Castelino (center) and Tourism Secretary Christina Frasco
and a proud moment for Malaysia. Despite the transition, Malaysia reaffirmed its strong commitment to the bloc and to working closely with the Philippines. The spirit of partnership underscored throughout the former’s chairmanship is mirrored in initiatives such as the SENISIKAT program, which further deepen people-to-people ties between the two neighbouring nations.
sustainable relations among nations through the arts. The grand opening’s highlight was a fashion show which showcased Malaysian and Filipino designers’ artistic talents. Among the creative minds who showcased their masterpieces were Anuar Faizal and Dr. Kenny Loh from Malaysia, with Jean Yu Aves and Roald Sena from the Philippines.
Full support
School presence
TOURISM Secretary Christina Garcia Frasco, Manila City Mayor Francisco Domagoso “Isko” Moreno, Zamboanga City Mayor Khymer Adan Olaso and DepEd Director Atty. Amorsolo Camara Jr. who delivered messages in support of the SENISIKAT graced the grand opening ceremony. Philippine government officials and members of the diplomatic community were also present, as they pledged strong support to the initiative as well as the festival’s overall goal: to foster inclusive and
THE SENISKWELA 2025 Manila was held in late November at Lakandula High School in Tondo Manila. It was a cross-cultural program intended for the youth and educators, mainly consisted of workshops, mural installations, lectures and teacher training—all designed to empower the youth and teachers through arts for them to become effective ambassadors of MalaysiaPhilippines relations. SENISKWELA in Manila was the fourth iteration of the program since its inception in 2024. The Creative
Forum on November 27 at the Centro de Turismo Intramuros consisted of panel discussions that delved on Malaysian and Philippine art and culture, the role of the creative industry in diplomacy, as well as in promoting tourism. Among the forum’s speakers included IDEAS International Tunku’ Zain Al Abidin, Castelino, and the president of Fashion Accessory Makers of the Philippines Gina Nebrida-Ty. Artworks and fashion ensembles were also exhibited at Centro de Turismo Intramuros late in November 2025, which allowed the general public to appreciate the creative talents of Malaysians and Filipino artists. Through the SENISIKAT, the Embassy of Malaysia hopes that visitors will further appreciate not only the talent of Malaysian and Filipino artists, but also the key role that the arts and culture play in fostering stronger relations among nations, particularly between Malaysia and the Philippines.
Film festival heralds new era in French-Phil. joint productions
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HE 28th French Film Festival marked a historic milestone in Philippine and French cinema with the unveiling of the inaugural French-Philippine Co-Production Conference. The two-day industry platform catalyzed new partnerships, investments, and joint film projects between the two countries, according to the Embassy of France. It served as the first major initiative of the collaboration, following the signing of the joint production agreement during the 78th Cannes Film Festival on May 14, 2025 by Gaëtan Bruel, who serves as president of the Centre National du Cinéma et de l’Image Animée, and Film Development Council of the Philippines (FDCP) Chair Jose Javier Reyes. The signing of the co-production agreement now formalizes and expands these opportunities, allowing Filipino producers and directors to access French funding mechanisms, grants, tax incentives, talent networks, and distribution channels, strengthening both creative and commercial pathways. In her opening remarks, Ambassador Marie Fontanel noted that the joint effort marks a new era for French-Filipino cinema. Reyes and Foreign Affairs Undersecretary for International Economic Relations Maria Andrelita S. Austria also provided special messages. Both emphasized that the collaboration enriches cultural ties while supporting creative industries and economic growth.
Spotlight on Filipino works
THE sessions highlighted acclaimed works such as Brillante Mendoza’s “Serbis” and “Kinatay,” which earned the Best Director award in Cannes in 2010; Avid Liongoren’s Saving Sally;
FOREIGN Affairs Undersecretary Maria Andrelita S. Austria (from left), FDCP Chair Jose Javier Reyes and Ambassador Marie Fontanel
and projects produced by Bianca Balbuena including Above the Clouds with Pepe Diokno and Filipiniana with Rafael Mendoza. The roundtable also featured industry insights from line producer Martin Arnaldo on De Sang et d’Argent. This was followed by a comprehensive presentation of the French Cinema Support System and the implementation framework of the co-production pact with the Philippines, delivered by CNC Deputy Director for International Affairs Michel Plazanet. The afternoon sessions continued with a discussion on applying the agreement in practice, with perspectives from the production of Zsa Zsa Zaturnnah. It concluded with a French Producers’ Panel that introduced the companies, filmographies, and future projects of Franck Priot, Angele de Lorme, Natacha Devilliers, Francois Belot, and Xenia Maingot.
This set the stage for active development collaboration. The second day centered on project development activities, which began with one-on-one pitch-dating sessions among French producers and Filipino filmmakers. The program featured a panel discussion and projection of Elsewhere at Night—a Filipino–Canadian coproduction featuring French actress Garance Marillier with Filipino cast members Sue Prado, Kyrie Allison, Enchong Dee, and produced by Wilfredo Manalang.
From Cannes to Manila
ANOTHER highly anticipated session was Call My Manager—the Filipino adaptation of the hit French series “Dix Pour Cent” (Call My Agent). The casting of the Philippine version included Edu Manzano and Judy Ann Santos. A panel discussion ensued with director and producer Erik Matti.
The conference’s conclusion was followed by a red carpet reception and gala screening of “Dix…” in the presence of Marillier and Mendoza, as it celebrated the strengthened cultural and professional bridge between the two film industries. Beyond cultural exchange, the co-production agreement is expected to generate significant economic impact, with increased foreign investment in Philippine film production, job creation in creative and technical sectors, enhanced international distribution opportunities for Filipino content, and strengthened positioning of the Philippines as a competitive production hub in Asia. The platform also fostered crossborder knowledge transfer and talent mobility, supporting the growth of the broader creative economy.
Boosting bilateral creative ties
FRENCH-PHILIPPINE film cooperation has long been a dynamic component of bilateral relations, with Filipino filmmakers increasingly gaining prominence at international festivals and participating in prestigious workshops such as La Fabrique organized by the Institut Français in Cannes, and the Cinéfondation of the Cannes Film Festival. Over the years, Filipino productions have benefitted from French producer support and grants that include Fonds Sud Cinéma and the Aide au Cinéma du Monde, enabling numerous projects to reach global audiences. The Co-Production Conference was presented by the Embassy of France to the Philippines and Micronesia and the Film Development Council of the Philippines, in cooperation with the Directors’ Guild of the Philippines Inc.
NNSBRUCK Nature Film Festival (INFF) has officially debuted in Asia, as it launched its first-ever Manila Edition at the SM Mall of Asia Cinema. Held from November 30 to December 2, the three-day event brought free screenings of awardwinning nature and environmental films from Austria and offered Filipino audiences a unique opportunity to explore global stories of biodiversity, conservation, and sustainable futures. Ambassador Johann Brieger officially opened the festival with an inspiring message on December 1, as he emphasized the significance of the event as one of the most meaningful cultural collaborations between the two countries. Brieger spoke on the deep connection among culture, nature, and collective responsibility. He noted that, while Austria is often associated by many Filipinos with the iconic film The Sound of Music, the festival was to offer “something even better:” a chance to experience another side of the European country through its breathtaking landscapes and biodiversity of Innsbruck.
Most respected
ESTABLISHED as a key cultural event in Tyrol and Innsbruck in 2002, the INFF is one of Europe’s most respected platforms for environmental cinema. Every year, this international film contest attracts hundreds of filmmakers, as it covers topics such as nature, ecology and sustainability in addition to artistic film aspects. “By bringing the INFF to Manila for the very first time, we hope to contribute to this global dialogue from here in the Philippines—a country rich in biodiversity and deeply connected to nature, yet also vulnerable to the realities of climate change,’’ said Brieger. He also highlighted the importance of elevating local conservation voices, especially with the inclusion of the Filipino documentary “Iyo ang Dagat” by Sally Snow and LAMAVE, as he described environmental stewardship as “personal, communal,
AMBASSADOR Johann Brieger delivers his opening remarks.
deeply local,” while reminding the audience made primarily of students that their generation has both the right and the responsibility to demand and lead meaningful change.
Supported by SM
THE opening ceremony also featured welcome messages from SM Supermalls Executive Vice President for Marketing Joaquin San Agustin, who shared that SM’s longstanding adherence to sustainability and community engagement aligns closely with the festival’s purpose. The event was supported by SM Mall of Asia Senior Assistant Vice President for Operations Perkin So and National University-MOA Campus Executive Director Dolly Rose S. Manalang, along with faculty members and school officials. Guests were treated to a special screening of the Austrian documentary Wild Innsbruck by Patrick Centurioni, offering a stunning look into the natural world surrounding the city. The film was later contextualized through insights shared by INFF Biodiversity Advisor Stefanie Pontasch, who flew in for the festival. The program continued with a short talk and panel discussion on nature filmmaking featuring Pontasch and Titus Cañete of LAMAVE, enriching the audience’s understanding of biodiversity, conservation storytelling, and the role of film in environmental advocacy. The film festival was presented by the Austrian Embassy in Manila in partnership with SM Supermalls, SM Cinema, and the FDCP, with support from the Philippine Sustainability Movement, Pristine Solutions, and LAMAVE.
Japan minister attends lecture on architecture by Spanish Embassy
MINISTER Naobumi Yokota (center)
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APAN’S Minister for Economic Affairs Naobumi Yokota attended a lecture hosted by the Embassy of Spain entitled “Architecture and Urban Planning during the Spanish Period” at the National University Mall of Asia (NU MOA). The conference, organized by the embassy in collaboration with the Embassy of Japan and NU MOA, invited distinguished Spanish architects: Associate Professor Juan Ramon Jimenez from the University of Shiga Prefecture, and Project Assistant Professor Jesus Pulido from the Center for Global Education of the University of Tokyo, who are conducting research in Japanese universities. The lecture focused on the professors’ studies on Spanish architecture and fortifications in Intramuros, Parian, San Nicolás, Cavite, Cebu, and Davao, among others. In his message, Yokota thanked the Spanish Embassy for organizing collaborative initiatives aimed
at fostering greater awareness on cultural heritage protection among the youth. He also encouraged the students to continue actively engaging in cultural exchange opportunities to foster greater international cooperation and friendship. Also in attendance were the Embassy of Spain’s First Secretary Alvaro García Moreno, alongside NU MOA’s Executive Director Dolly Rose S. Manalang and Academic Director Dr. Annalie N. de Lemos, as well as Dean Arch. Serge T. Chua Jr. of the university’s School of Architecture. Since the elevation of Japan and Spain’s bilateral ties to a strategic partnership in 2018, both countries have pursued further coordination and cooperation in emerging nations through their respective embassies. Building on this strong foundation, Japan’s participation in this event, according to its embassy, reflected its commitment to “bolstering the friendship and collaboration [with] the Philippines and Spain.”
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SFA Lazaro cites dynamic interplay in diplomatic protocol at event with senior government officials
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HE country’s top diplomat emphasized the significance of sustained interagency linkages to ensure effective and professional conduct of diplomacy in the Philippines. Secretary of Foreign Affairs Ma. Theresa P. Lazaro highlighted the key aspect during the Executive Dinner on Inter-Agency Cooperation in Diplomatic Protocol hosted by the Department of Foreign Affairs (DFA) on December 11. The dinner marked the first time that a foreign affairs chief personally served as guest of honor at the event following the Inter-Agency Conference on Protocol Matters, as she underscored the importance the department attaches to close coordination among government agencies involved in diplomatic protocol and facilitation.
In her remarks, Lazaro emphasized that the proper implementation of diplomatic privileges, immunities, and courtesies depends on the coordinated efforts of multiple government agencies, whose mandates intersect with the work of foreign missions, international organizations, and official visitors. She thanked the partner agencies for their continued partnership, support, and cooperation, as she noted that their day-to-day work enables the DFA to carry out its representational functions effectively and consistently. Assistant Secretary Ariel Rode-
SECRETARY Ma. Theresa Lazaro (frontmost), Undersecretary Ma. Theresa Dizon-de Vega, and Assistant Secretary Ariel Peñaranda as host chief of protocol, with senior government officials, partners and dinner attendees DFA-OPD/JOHANNES ADRIAN DE GUIA
las Peñaranda, who served as chief of protocol, hosted the executive dinner, as it capped off the InterAgency Conference on Protocol Matters held earlier in the day. Senior officials and representatives from partner government offices and agencies involved in diplomatic protocol and facilitation, including Chief of Presidential Protocol Reichel Quiñones, National Historical Commission of the Philippines Chairperson Regalado T. Jose Jr., Mayor Emilia
Calixto-Rubiano of Pasay City, and Senate of the Philippines-Office of the International Relations and Protocol’s Director General Antonio G. de Guzman Jr. were at the event. Senior officials of the Department of Foreign Affairs including: Undersecretary for Policy Leo Herrera-Lim and Undersecretary for Migrant Affairs Ezzedin Tago, as well as counterparts from the Office of the President, Senate, House of Representatives, Depart-
Phil. Embassy gathers Pinoy community on Day 1 of ‘Simbang Gabi’ in Bangkok
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HE Philippine Embassy in Bangkok successfully hosted the first day of Simbang Gabi at the Holy Redeemer Church on December 16, as it marked the start of a cherished Filipino Catholic tradition that the Filipino community observes in Thailand’s capital city. Simbang Gabi, a nine-day series of dawn masses leading up to Christmas Day, is a deeply rooted Filipino tradition that symbolizes faith, hope, and spiritual preparation for the birth of Jesus Christ. For Filipinos overseas, including those in the kingdom, the masses serve not only as an expression of religious devotion, but also as an important occasion to strengthen community bonds, preserve cultural identity, and pass on Filipino values and traditions to younger generations of overseas
THE Philippine Embassy team after the first day of Simbang Gabi CONSUL CHARMAINE D. GUEVARA
Filipinos. The tradition was initially observed in Bangkok in 1977. Apos-
tolic Nuncio to Thailand Archbishop Peter Bryan Wells presided over the first day of the 48th Simbang Gabi celebration. Rev. Monsignor Daniel Tumiel who is the secretary of the Apostolic Nunciature, and Rev. Fr. Joseph Prud Thipthong CSsR who is the church’s pastor, together with the clergy’s other members, concelebrated the Eucharist, which offered solemnity and spiritual depth to the celebration. Prior to the concluding rites, Ambassador Millicent Cruz Paredes delivered her message to the Filipino community, where she underscored Christmas as a season of faith, gratitude, and reflection that brings Filipinos together in hope, peace, joy and love. She encouraged the community to em-
body the true spirit of Yuletide by sharing compassion, generosity, and goodwill, and by drawing strength from one another to promote peace within the community and in the world. In keeping with a long-standing tradition and the true spirit of Christmas, members of the Filipino community gathered after the mass to share a hearty Filipino breakfast, sponsored by the Philippine Embassy. The embassy said that the fellowship further reinforced the sense of bayanihan and togetherness that defines Simbang Gabi, as it provided the community an opportunity to reconnect, share stories, and celebrate their shared faith and cultural heritage while living and working in Thailand.
Embassy in Brunei brews yearly ‘Kapihan’
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ANDAR SERI BEGAWAN— The Philippine Embassy in Brunei Darussalam, led by Ambassador Marian Jocelyn R. Tirol-Ignacio, convened its yearend “Kapihan sa Pasuguan” for 2025 at the Embassy’s Consular Annex. The gathering attracted more than 80 leaders and representatives of Filipino community organizations from across the sultanate on November 30. The dialogue served as a platform for the embassy to present its Quarterly Report Card and share updates on recent developments in the Philippines and Brunei Darussalam. A key focus was the new overseas voting registration cycle for the 2028 National Elections, including the registration period from December 1, 2025 to September 30, 2027, the basic qualifications and disqualifications, and procedures for overseas Filipinos who wish to register or update their records. Participants also received updates on the embassy’s calendar of activities for the remaining months of 2025 and early 2026, covering the forthcoming commemorative and cultural events. The Overseas Workers Welfare
ment of Finance, Department of National Defense, Department of Trade and Industry, Armed Forces of the Philippines, Bureau of Internal Revenue, Bureau of Customs, Bureau of Immigration, Office for Transportation Security, Land Transportation Office, Philippine National Police, National Parks Development Committee, and New NAIA Infra Corporation. Undersecretary for Administration Maria Theresa B. Dizonde Vega, who introduced the DFA
chief, highlighted the role of institutional coordination and the importance of administrative and operational agencies in supporting the country’s diplomatic engagements. The dinner was an opportunity to reinforce professional relationships developed through regular interagency coordination, complementing the technical discussions earlier in the day with a setting that encouraged dialogue and continued collaboration. The program featured a musical interlude by pianist Ayman Linzag, with vocal performances by Nova de Lara of the DFA’s Office of Protocol and soprano Faye Transfiguracion from the University of Santo Tomas’ Conservatory of Music. The DFA reaffirmed its commitment to strengthening interagency mechanisms supporting diplomatic practice, emphasizing that effective protocol work is a shared responsibility underpinning the Philippines’ engagement with the global community.
PCG holds lantern-making workshop with Agana archdiocese’s youth council
VICE Consul Daniella Villamin-Oriondo (front row, second from right) and Cultural Officer Helen Grace Cuisia (third from left), with workshop participants and PCG personnel
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HE Philippine Consulate General in Agana, Guam (Agana PCG), conducted a Philippine lantern (parol)-making workshop at St. Anthony de Padua Catholic Church Pastoral Center on December 14. The workshop was facilitated by Vice Consul Daniella Bianca Villamin-Oriondo and saw participation from Archdiocese of Agana Youth Council’s members. In her opening remarks, VillaminOriondo highlighted the lanterns’ significance during the Filipino Christmas celebration: “In the Philippines, parols [reflect the Filipino spirit of resilience, creativity, and joy, especially during this] season—a time when we come together as family and community.” Participants said they had a great time creating their own parol, as they were assisted by Agana PCG personnel. According to the orga-
nizers, the workshop was not only a creative exercise, but also an opportunity to promote Filipino culture and the arts. During the session, the vice consul shared her insights on important Filipino Christmas traditions, particularly the Simbang Gabi. The program was further enlivened by the playing of Filipino Christmas songs. Some participants shared their plans to impart what they have learned in their own homes, schools and organizations. It was the second workshop of its kind conducted by the consulate this year; the first at Father Duenas Memorial High School on November 6. Agana PCG said it remains committed to promoting Filipino heritage and fostering cultural awareness through similar meaningful activities, as it strengthens connections within the local community in Guam.
AMBASSADOR MARCIANO OCTAVIO GARCIA DA SILVA:
‘Filipinos are our Asean brothers and mentors’ Continued from D1
Living narrative
EMBASSY officials and Filipino community leaders gather for a coffee session to cap off the year BRUNEI PE
Administration provided an information session on the OWWA e-card, detailing its use as proof of active membership and tool for accessing the administration’s programs and services. In line with the Philippine government’s 18-Day Campaign to End Violence Against Women, the embassy’s Gender and Development Team informed participants about the ongoing campaign and
its core messages, then invited Filipino organizations to help promote awareness and share information on preventing violence against women and children within their respective communities. The program also featured a general postevent review of the embassy’s flagship community celebration “Paskong Pinoy, Pistang Pilipino 2025.” Filipino community leaders then took the floor to share
announcements, raise concerns, and offer proposals aimed at strengthening coordination and community work in the coming year. The “Kapihan…” remains a valuable venue for dialogue between the Philippine Embassy in Brunei Darussalam and the Filipino community, reflecting the former’s commitment to transparency, accessibility, constructive engagement, and public service.
THE story of da Silva is not only about Timor-Leste’s Asean accession; it is about the power of solidarity to transform nations, the role of education in diplomacy, and the enduring bonds between two Catholic archipelagos. His tears in Kuala Lumpur captured the essence of that journey: a small nation, once fragile, now standing among equals—thanks in no small part to the Philippines. “Timor-Leste’s membership belongs not to any individual,” he said, quoting his president, “but to every Timorese who sacrificed for independence, rebuilt our nation from ashes, and never ceased believing
AMBASSADOR da Silva delivers his lecture on Timor-Leste’s long-awaited accession to Asean during the Foreign Service Institute’s lecture series.
in our rightful place in this region.” For the ambassador, the Philippines is woven into that narrative. And as Asean looks to the future, he insists that the lesson of TimorLeste’s journey is clear: unity is built not only on treaties, but on trust, compassion, and shared struggle.